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Valuation

A simple survey carried out on a property for the benefit of the lender. Because the report is carried out for the lender, if the surveyor makes a mistake you have no legal claim against him.

Valuation Fee

A fee charged to cover the cost of a valuation, typically paid by the borrower.

Value

The price of a property under normal conditions, ie. When the buyer is not forced to buy and the seller not forced to sell.

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© alexander hall 2006 | Important Legal Information | Sitemap | 08000 38 37 36

alexander hall associates limited is authorised and regulated by the Financial Services Authority for pure protection, residential mortgages and general insurance business. We do not charge a fee for residential mortgage advice; however there is an administration fee for processing each of your standard residential mortgage contracts. The typical administration fee is £399. For impaired credit lending the typical fee is 1% of the mortgage loan. For Buy to Let and Commercial Mortgages a fee of 0.5% of the mortgage loan size applies of which £400 is payable on application with the balance payable on completion.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.