How much should a mortgage valuation fee be?

How much should a mortgage valuation fee be?

Ray Boulger (Mortgage Advisor) gives expert video advice on: What is a Homebuyer's Report?; What is stamp duty and how much is it?; Is there anyway that I can avoid paying stamp duty? and more...

The amount of the mortgage valuation fee depends on the value of the property. Now typically for a property costing around £100,000 it will be around £250, and increases as the property value goes up. As an alternative to a mortgage valuation fee, some people will pay a higher amount to have something called a "home buyer's report," which gives a lot more information on the property. In that situation, the lender receives the standard mortgage valuation but the purchaser receives a more comprehensive valuation report from the lender which includes a lot more detail on the property. And that's well worthwhile considering, especially for older properties.