Valuation UK Mortgage definition

UK Mortgage definition

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Valuation

An appraisal of the value of a property is called a 'Valuation', and is done by the lender to assess its worth as security for a loan, or by the prospective buyer to act as check on the assessed property value before making an offer. A valuation for mortgage purposes would be carried out by a qualified professional valuer.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

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