Sorry, new to this. Rolf by upfront valuation what do you mean?
What Aaron said, and to expand on the logic behind that
1. you, the broker and the bank really don't want to go through the application paperwork I need to get through all that get a conditional approval and then find a valuer that disagrees with your opinion.
2. Every time you make an application like the above, there is an enquiry on your credit file.
Logical thing to do in most cases if you looking to refinance is to use a lender that will allow you to do an upfront valuation.
Sometimes you have no choice for structural reasons or legacy reasons ( new inherited that lender and you must continue to use because you've paid lenders mortgage insurance, or part of your loan is fixed), but wherever possible we very much prefer to use lenders that have common sense.
Typically speaking, lenders that do not allow upfront valuation at doing themselves any favours let alone their brokers and borrowers.
my guess is that in the middle to long term we will suit all lenders doing some form of front valuation process through the broker channel at least, I think the direct channel will be a little bit slower to get up because bankers tend to do less "mud at the wall type" transactions than your average broker because they have a little bit of REAL desktop data to work with
Thanks
Rolf