Poor valuation/survey
Tenancy Deposits

2 Thanks
173 Posts
15 years ago
I have just purchased a house some £35k below it's already low market value. The lenders valuer stated that it needed "major works!" (I know this house as I bought, renovated and sold it in 2006).The valuer was very vague stating 1/"Copings need re bedding" 2/"electrical installation causes concern" and 3/"damp to internal walls". he has also stated that there is "ongoing movement".
this is a solid stone terrace. reference 1/ I and a builder cannot find any sign of movement, we do not understand what he means by copings, however, there is loose pointing around a few lintels.
2/ my electrician has checked and can find no electrical issue's apart from a cracked plug socket. 3/ one wall is clearly showing damp and needs treatment.
As a result of this damming report the lender refused to lend me the full amount and has also kept a retainer.
Do I have any course of redress against the valuer?

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