NAB LOC - desktop valuation?

[JumpinJack]

Just wondering, if I apply for a NAB LOC (FlexiPlus Mortgage Facility), will they do a full valuation or desktop valuation?

Is it possible to specifically request a desktop valuation?

And is it best to go through a broker or directly?

Thank you for any help.

 

[Peter_Tersteeg]

The type of valuation a lender (including NAB) performs will depend on a number of factors including the estimated value, loan amount, location, strength of the deal and nature of the deal (purchase or refinance).

NAB tend to use their own internal valuers rather than an independant company. My recent experience with this hasn't been good, with most valuations being well short of expectations or other lenders results, even when it's a straight forward purchase.

 

[jonmardell]

it will come down to the loan to value ratio submitted and whether a desktop valuation comes close to the estimated value. As the other poster mentioned NAB uses internal staff most of the time but this depends on location. if you go through a broker it is the same process as direct regarding the valuation. Homeside (nab brand) on the other hand allows brokers to order valuations up front.

 

[Jandnat]

We have a portfolio facility (LOC) with the NAB and they have always used internal desktop valulations for us. It will depend on your situation and LVR