All Types of Mortgages….for all types of people!

May was a truly great month for new business with AToM recording our best month for actual new applications received, since October 2009.  However, for all the jubilations this may bring, it’s probably been the toughest month for actually getting cases through to offer via the lenders.  For example, one high street named super giant has decided that on all loans under a certain percentage of the property value, they won’t need a full physical valuation.  So rather than a surveyor going in to the property to view all the details, they just drive past…!  In one recent case, the drive by valuer decided said property was worth £35k less than the owner thought (despite the property next door selling for the same price in Nov 2011).  We were then told in order to challenge the valuers decision, we had to provide two comparable properties that have been sold in the immediate vicinity within the last 120 days!  Nigh on impossible…yet remember the adjacent property had sold for the same amount, just six months ago!  No two days are the same in the mortgage market, but many are very frustrating!