Downvaluations - the Mirror
A features writer at The Mirror is writing a piece on downvaluations and is looking for case studies who would talk to them about this. Have you got any clients? If so, you'll feature in the piece…
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Yes, I’ve currently got a buy-to-let client whose rental income has been heavily downvalued despite the figure being confirmed by the letting agent. It has caused a real problem because the case looked perfectly workable on paper, but the lender’s valuation has suddenly changed the affordability picture.
It is a good example of how downvaluations are not just an issue for buyers arguing over bricks and mortar. They can derail landlords too, especially when rental stress testing is already tight. A modest-looking adjustment to expected rent can make the numbers fall apart overnight.
I can check whether the client would be comfortable speaking anonymously or on the record.
It is a good example of how downvaluations are not just an issue for buyers arguing over bricks and mortar. They can derail landlords too, especially when rental stress testing is already tight. A modest-looking adjustment to expected rent can make the numbers fall apart overnight.
I can check whether the client would be comfortable speaking anonymously or on the record.
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Ive had several downvaluations over the last few weeks which i believe are laughable, including one from a lender that had aready offered the mortgage and then decided to do a second valuation that was subsequently downvalued only a weeke before completion. I would be happy to talk on this subject