A Valuation can be added to either a Level 2 Homebuyer or a Level 3 Building Survey. It provides a calculation of a property’s market value after a comprehensive inspection of that property.
Note that a Pennine Valuation is not a mortgage valuation. These are required by a lender to determine whether or not it can recoup its money if it has to repossess.
Mortgage valuations are usually carried out after only a quick, superficial inspection of a property, although nowadays many mortgage valuations don’t even involve an inspection, but are generated by a computer (known as Automated Valuation Models, or AVMs).
Pennine Surveyors do not provide mortgage valuations, but instead only provide valuations after being able to inspect a property thoroughly as part of a survey. We believe this enables a more accurate calculation of a property’s true market value.