Let to buy mortgage company valuation

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1 Posts
13 years ago
Dear Sir/Madam

I am not sure if you can help but I thought it worth a try.

I am remortgaging my current property to rent out and use the equity to purchase another house. The estate agents in the area valued the property between £165000 and £179950.

I started with the property on the sales market but put it on at the low valuation (165) to try for a quick sale however due to the property we are buying becoming vacant, I am now looking at letting to enable the move to happen quickly.

However I have just had The Mortgage Works in to value the property and they have valued it at £150,000 and say there is no way to appeal.

Is this common and how can 2 local estage agents be so different in their valuation?

Is there anyway I can appeal or are there any other companies offering 80% loan to value mortgages?

Any guidance would be appreciated as I am not a full time landlord so do not know if I am missing anything.

Many thanks in advance

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