Standard or professional valuation Explained
This term, standard or professional valuation, refers to the valuation that is conducted by the mortgage lender, or rather on their behalf.
This is because the mortgage lender needs to have an idea of what a property is worth in order to be able to know whether they can offer you a mortgage on it under their standard risk procedure: they need to be able to assess the fair market valuation of the property and the security that it offers them.
Property Articles
We hope you find this mortgage glossary / explanation of mortgage terms useful. You might also be interested in our articles on a range of property related issues, a selection of which are listed below:- Home Reversion Plans
- Roles in the mortgage process
- Mortgage payment protection insurance
- Property Purchasing in Spain
- Commercial or semi-commercial mortgages
- Costs associated with business premises
- Spain and NIE Numbers
- Tips on Living in Spain
- Self Certified Mortgage
- Buying in a Village Might be a Good Investment
- Buying property in Cyprus
- Unusual or unique home mortgages
- Second home mortgages
- Contents Insurance
- Questions to ask when viewing a house
