Monday, 15 September 2014

Mortgage Valuation Report

Your solicitor may ask to have sight of the valuation report used by your lender to assess your eligibility for a mortgage. In this article I look to explain why your solicitor needs to see a copy of the valuation. 

The CML handbook ( which governs your solicitors relationship with your lender )  requires  your solicitor to check the property valuation report. 

Your lender may not have  provided your solicitor with a copy of this document and because of this your solicitor will seek from you a copy of the valuation report which should have been sent to you direct.

Why does  your solicitor need to see this particular document?

Your solicitor must check that the correct property has been valued (by checking the address on the valuation against that on the contract or title) and that any assumptions made by the valuer, such as tenure, restrictions on use, availability of parking etc are correct.

Your solicitor must report any errors or omissions to the lender so that they can ask the valuer whether the valuation needs to be revised as a result of them. 

Even if you have provided your solicitor with a survey/homebuyers report  your solicitor will not be able to discharge his duty to the lender without sight of the valuation report. 

MJP Conveyancing  are solicitors who provide legal advice and services to clients based in England and Wales and who can be contacted on 01603877000 or via email at

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