Remortgage Valuation

Returngage Evaluation

The question is - should I get the independent RICS rating before applying for a reverse mortgage? Retortgage rating eye cateringly low!!!!

Of course, I appreciate that experts are mistaken on the side of prudence (like me), but I think in this case all the proof suggests that the valuation seems very far removed from any other valuation professionals make. In fact, it's about 20 percent lower than anything else, and I know the current volatility in the markets is quite high, but the 575,000 estimates by the analysts don't seem correct at all.

This is a truly one-of-a-kind villa in the region as it is a former part of a converted viktorian structure; there are only two other buildings in adjacent block sizes that have not been for purchase for over 18 years. One I. Ownership; asking asking of 550k and they took 525k in January as they wanted a fast sell they got.

There are 1222 square feet of residential area. Ownership two; asking asking price of 600k and was for 605K in April sells. There are 1249 square feet of residential area. I own 2100 square feet of floor area. Corresponding to land registry pictures of square metre total length for terraced properties in the area, this currently stands at £394 per square foot, even if we said Conservative this is downsized to £350 which would still value my property should it be at around 773k.

Looking at the valuer's rating, this would be equivalent to £273 per square metre. The land registry has 1-2 apartments in the area which are sold at £384 per square metre!!! And I don't push for the top-end valuation because I know that I wouldn't be paying for it and I think the EA's are not realistic, but it's also that valuation when you look at the facts.

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