Financial Times - Sellers at risk of 'down-valuations' - October 2013
Challenging a down-valuation has also become harder with some lenders. Last week, NatWest told mortgage brokers that they will not challenge property down-valuations in most cases, pointing out that the surveyors they use are professionals and operate under the Royal Institution of Chartered Surveyors' standards.
Aaron Strutt of Trinity Financial, told the Financial Times that most lenders allow borrowers to question a down-valuation and do not expect appeals to go directly through Rics.
"Normally, if you have a down-valuation it is possible to appeal the decision by providing comparable evidence, although the success rate is often very limited," said Mr Strutt.
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October 25, 2013
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