Home Report valuations are snubbed by Barclays
Published Date:
22 November 2008
THE high street bank Barclays will refuse to accept Home Reports when the new system for property sales is introduced next month, The Scotsman can reveal.
From 1 December, Scottish homes for sale will require a Home Report – made up of a survey, including a valuation, plus an energy report and a property questionnaire – paid for by the seller.
But Barclays said its mortgage arm, the Woolwich, would still require buyers to pay for a valuation from its own range. Other major lenders, including Abbey and Halifax, have said they will accept the valuations in Home Reports.
This meant Woolwich borrowers selling one property and buying another would have to pay twice for a valuation, said David Rolleston, of Mortgage Advice Brokerage.
The full article contains 129 words and appears in The Scotsman newspaper.
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Last Updated:
21 November 2008 9:55 PM
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Source:
The Scotsman
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Location:
Edinburgh
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Related Topics:
Mortgage and property news
