Do new mortgages always send a valuer to site?

[Raine]

 

Hi folks,

 

This question isn't specifically about self build mortgages, but is related to a new mortgage (possibly standard residential mortgage) on an existing mortgage-free property to raise funds for purchasing another property.

 

Do mortgage companies always send a valuer to site?  If so, will they need access to the property?  I'm sure I remember a "drive by" valuation being done on a house that I owned in the dim & distant past, but I don't fully recall.  It might have been that they sometimes do a drive-by (or even desktop?) valuation for low LTV loans??  I can't remember though!!

 

 

 

 

[Bonner]

A relative does valuations. For standard houses, he does a drive by just to check the house exists and not burnt down.

[Pocster]

Sometimes they just do a “ google “ valuation- not even bother driving by 🙄

[SarahG]

I have never in 14 years had anyone to the property for our first mortgage or any standard remortgage since. This is the first self build and they will be sending someone, they could just use Zoopla and save me £1400 and them some time.. 

[LaCurandera]

Are you concerned about them seeing your current property or new one? 

The reason for the funds is immaterial for the valuation, it's secured on your current property. So if they value anything, it'll only be your current property and unlikely to require any access (but presumably would be fine if they did)