Switching to Tracker

D

dubmick

Registered User
Messages
58
Just wondering if you actually need to get a valuation done or can you just give the bank an estimated valuation when you want to switch to a tracker rate?

How much is a residential valuation these days?

Cheers

Mick
 
€127 is the usual price for a residential valuation though some lenders, I think BOI in particular, charge more.

Valuations may be necessary where tracker mortgages are concerned as the lender may charge you a rate which will depend on your loan to value. Usually the lower your loan to value the lower the tracker rate will be.
 
So the lender arranges the valuation? I just presumed you get your own valuation.
 
No you should be able to arrange the val' yourself - though check first!

Just be sure the valuer in question is on the relevant bank's panel of valuers.
 
Last edited:
Apollo said:
€127 is the usual price for a residential valuation though some lenders, I think BOI in particular, charge more.
Click to expand...

Lenders don't charge for valuations, they have a panel of valuers from which you can choose and it the valuer that you pay the fee to - around €130 plus travel expenses where applicable.
 
Correct.

But BOI valuations cost over €150 to be carried whilst other lenders charge c.€127 with expenses where applicable.
 
Hi Dubmick,

I recently swtiched from a standard variable rate to a LTV tracker rate as my LTV was less than 30%. The mortgage provider in question did not request a valuation as I gave them an estimated value of the house over the phone and I received a offer letter confirming the switch in rates by the following week. If they do request a valuation ask them would a screen-shot of a similiar house from myhome.ie suffice..worth a try! Why pay 130/150 euro on a valuation!?
 
Apollo said:
But BOI valuations cost over €150 to be carried whilst other lenders charge c.€127 with expenses where applicable.
Click to expand...
Unless that's very new, then it's certainly not necessarily the case. BoI got a valuer from their panel to value my current property for mortgage purposes, and that cost exactly €127, around Sept / Oct last year.
 
I am about to switch my mortgage to the lowest available tracker, currently Bank of Scotland from what I can see.

Can I go in with my 30% LTV, demand no valuation fee, no set up costs, no double whammy on the monthly payments (i.e EBS on the 7th of the month, followed by the new one a week later)?

Surely it's a buyers market, and they should be happy for such blue chip mortgage business, and so should waiver all costs to get you on board.
 
You must log in or register to reply here.
Menu
Log in
Register