New Build Valuation

Posted on 26 February 2011 by Baz

My lender, on the eve of exchange has realised that my LTV should have been set at 75% and not 85% as quoted due to the property being a new build. My anger stems from the fact they had a valuation done over 8 weeks ago and it clearly states that the property was built in 2010....the long and the short of this shambles is that now i am forced to go with this lender at 75%LTV for fear of losing the property....their failure to do their job has cost me a further £4000 which had i had enough notice i could have shopped around for a lender that would have offered me my original 85%LTV. Any help from you would be gladly received.


Had you arranged the mortgage through John Charcol this would have been picked up and we would have chosen a lender who offered 85% LTV on New Builds.  As it is we are not in a position to be of any assistance.

I suggest that you make a formal complaint to your Lender through their statutory complaints procedure.


Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

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