You’ll need to pay a valuation fee if you’re buying a property or where the loan is over £500,000 and you are just moving your mortgage from another lender (remortgaging). There’s no valuation fee if your mortgage is already with us and you’re just switching to a new mortgage deal. Also, from time to time there may be offers available without valuation fees if you’re moving home or remortgaging. Check the mortgage details before you apply. If there is a valuation fee, this needs to be paid when you apply. Once the valuation has been carried out, the fee can’t be refunded. The valuation is for mortgage purposes only.
Value of your home | Valuation fee |
|---|---|
Up to £25,000 | £225 |
From £25,001 to £50,000 | £250 |
From £50,001 to £100,000 | £275 |
From £100,001 to £150,000 | £300 |
From £150,001 to £200,000 | £350 |
From £200,001 to £250,000 | £400 |
From £250,001 to £350,000 | £450 |
From £350,001 to £450,000 | £525 |
From £450,001 to £550,000 | £600 |
From £550,001 to £650,000 | £650 |
From £650,001 to £750,000 | £700 |
From £750,001 to £850,000 | £750 |
From £850,001 to £1,000,000 | £800 |
From £1,000,000 to £1,250,000 | £900 |
From £1,250,001 to £1,500,000 | £1,050 |
If your property is valued at more than £1.5 million, please contact your local branch or call us on 0800 783 3534*.
About the valuation
We may visit the property to carry out a valuation. However, in some cases, our existing knowledge of the property type and area, combined with information you provide in your application, may mean that we don’t need to visit the property and inspect it, or we may be able just to view it from the outside.
The valuation is purely for our purposes to help us assess whether the property is suitable security for the loan. We therefore do not provide copies of the report, unless you are moving home – see below for more details. If we agree a mortgage, you should not assume that we have inspected the property, that the purchase price is reasonable, that the property is worth the amount of the mortgage, or that there is nothing wrong with the property.
Therefore, if you are moving home, it’s essential that you arrange for a professionally qualified surveyor or valuer to inspect the property for you. Sometimes, following the valuation, we may ask you to arrange for a specialist report where our valuer has identified a specific problem. If the specialist report identifies a defect relevant to the decision to lend, we may insist repairs are carried out before we make the loan available or we may, in certain circumstances, be unable to lend.
Specialist reports must be carried out by an independent company, and this can result in delays. The cost of specialist reports and any work required will need to be covered by you. You should not assume, just because a request for a specialist report is not made, that the property is free from defects. If a specialist report is needed, we will provide you with full details of how to arrange this.
If you’re moving home
We will visit your property to value it and we will provide you with the valuation report when we have it. However, it’s important that you still arrange for a professionally qualified surveyor or valuer to inspect the property for you – as we said above, the report is for our purposes only. The fee will be based on the value of the property.
C&G mortgages are provided by Lloyds TSB Bank plc and administered by Cheltenham & Gloucester plc. Lloyds TSB Scotland plc offer their own range of mortgages, find out more.
* Open from 8am-8pm Monday to Friday and 9am-4pm on Saturday.
