What is a mortgage valuation?
A mortgage valuation is a property assessment prepared for a lender’s specified lending purpose. It helps the lender consider the property offered as security, using a defined scope, valuation basis and date.
Propti coordinates property report enquiries. Before ordering a mortgage-purpose valuation, ask the lender or broker who must instruct it and which valuers and report formats it accepts. A privately commissioned valuation does not automatically become a lending valuation.
Confirm the lender’s instructions first
- Does the lender need to order through its own panel or platform?
- Which valuation firm or individual is approved for this assignment?
- Who must be named as the instructing party and intended report user?
- What property interest, valuation basis and report format are required?
- Are there specific requirements for inspection, completion or report currency?
These details help avoid paying for a report that cannot be used for the proposed loan. If you are checking value before speaking with a lender, explain that it is an independent advisory enquiry rather than an approved lending instruction.
Choose the appropriate report scope
A lender may specify a particular assessment process. Compare desktop valuations, short form reports and full valuation reports to understand the broad differences, then follow the actual instructions.
For a tenanted commercial asset, leases, income and outgoings may be needed. For a proposed building or renovation, confirm whether the assessment is of the property as it stands or on an assumed completed basis. Plans and specifications may be required; construction cost reporting is a separate assessment.
Prepare your enquiry
Send the property address, type, proposed purpose, required date and any lender instructions. Include access contacts, plans and tenancy information where relevant. Identify known property issues and the date by which the report is required so availability and the fee can be checked.
Frequently asked questions
Can I send an existing valuation to a new lender?
You can ask the lender to consider it, but do not assume it can rely on the report. It may require new instructions, an updated assessment or another valuer.
Does the valuation approve my loan?
No. It addresses the property within the agreed scope. The lender makes its own credit decision and considers other application information.
How do I obtain a valuation quote?
First confirm the lender’s ordering requirements, then send Propti the agreed instructions. Where the lender must order directly, follow that process.