From: Peter Martin
A question for the brokers and finance experts:
I'm currently setting up an LOC on my own home and going through the process of choosing a valuer.
I am consistently being told by (3) banks and (2) brokers that unless I deal directly with a major bank at the branch manager level the bank will not recognise any valuation I have done, even if it's from a valuer on their own panel. They are telling me that if the bank's central admin has to approve the loan they will always get their own val.
Does this sound right? Kind of defeats the purpose of getting your own val doesn't it? Is the answer just to keep shopping around?
Thanks in advance,
Pete
A question for the brokers and finance experts:
I'm currently setting up an LOC on my own home and going through the process of choosing a valuer.
I am consistently being told by (3) banks and (2) brokers that unless I deal directly with a major bank at the branch manager level the bank will not recognise any valuation I have done, even if it's from a valuer on their own panel. They are telling me that if the bank's central admin has to approve the loan they will always get their own val.
Does this sound right? Kind of defeats the purpose of getting your own val doesn't it? Is the answer just to keep shopping around?
Thanks in advance,
Pete
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