The cost of conducting a property valuation is dependent on the property purchase price and the type of valuation being carried out. With costs for a basic valuation starting at £370 and increasing to £690 for a full detailed survey1, an unsuccessful sale can cause a buyer to lose hundreds of pounds.
Stephen Noakes, Mortgage Director at Halifax said; "Unfortunately from time to time sales can fall through, which is not only disappointing for the homebuyer, but costly too. By refunding the valuation fee when this happens, it will alleviate some of the extra burden for buyers to fund the valuation fee for their next property purchase." This is another example of Halifax challenging market norms in order to support customers through the home buying process."
The promise applies to all Halifax mortgage customers applying for any product through both the branch and intermediary channels. Customers who have had their property valuations commissioned through Halifax will receive their initial valuation fee refunded.
Payments will be made directly to the customers once completion has been reached on a Halifax mortgage for another property. GET IN TOUCH
Halifax customer services
08457 39 49 59
Halifax to refund valuation costs if house purchases fall through This press release was distributed by prleap.com