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Valuations - common trends.

3 min

We caught up with David Spruce, Commercial Roving Underwriting team leader, who tells us what the most common mistakes when it comes to valuations.

  • Incorrect valuation or rental keyed resulting in reduced lending decision post submission.

  • Data entrant forgetting to select projected rental rather than actual, this will potentially have an impact on affordability and result in delays on the application.

  • Comments in valuation not reviewed/referred.

  • Investment value used instead of Vacant possession value - if investment value required, please refer to Underwriting Relationship Manager before submission.

  • Intended use of commercial land/ property has not been identified - which can then have an impact on what product the application should be on.

  • Additional reports not obtained prior to submission – for example structural, Asbestos, or damp reports.

  • Panel Surveyor not utilised –if you require to go off panel then this will need to be referred before submission to valuationreferrals@togethermoney.com FAO of Roger Phillips and David Rawlins.

  • Insufficient lease at application – 50 years at the end of the term on Capital Repayment or 99 years at the end of the term if Interest Only.

  • The report isn’t dated within the last three months and no rely upon has been provided from the surveyors- this can be accepted via email. Please request when less than a week left (report or current rely upon).

Valuation facts:


What valuation will we use? Products
The Open Market valuation figure will be used, however the 90 day valuation figure will be considered if there is over a 10% difference between them. Please refer if the property is being purchased the lower of the Purchase price or the Open Market Value will be used. (For Multi Unit Freehold Blocks we require a single asset valuation figure). Buy to Let, Holiday Lets, Multi Unit Freehold Blocks, HMO’s, Home Owner Business loans and Residential Bridging.
The 180 Day valuation figure will be used, however the 90 day valuation figure will be considered if there is over a 15% difference between them – please refer If the property is being purchased the lower of the Purchase price or the Open Market Value will be used. Commercial Term, Commercial Bridging and Semi Commercial.


For more information get in touch with the team – 0161 933 7101.

Any property used as security, including your home, may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.

Articles on our website are designed to be useful for our customers, and potential customers. A variety of different topics are covered, touching on legal, taxation, financial, and practical issues. However, we offer no warranty or assurance that the content is accurate in all respects, and you should not therefore act in reliance on any of the information presented here. We would always recommend that you consult with qualified professionals with specific knowledge of your circumstances before proceeding (for example: a solicitor, surveyor or accountant, as the case may be).

Lending decisions are subject to an affordability/creditworthiness assessment.

All content factually correct at the time of publishing.

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