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Welsh sellers worst hit by down valuations, data finds
The average property subject to a down valuation was revalued to the tune of 2.8%.
Down Valuations
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Brokers report a rise in down valuations
One broker, Laura Bairstow, said: “We have noticed a definite increase in down valuations, especially in instances where the borrower only has a 5% or 10% deposit.”
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“Down-valuations are becoming the norm” – property experts reveal
Successfully appealing these valuation decisions is often extremely difficult, particularly given the current climate.
News
Down valuations leaving £8,000 gap
The average UK house price is currently £286,397 but property sales being subject to a down valuation are being hit to the tune of a 2.8% reduction, research from HBB Solutions has found.