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How to Guide: Getting your Home Valued

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Why do I need to my home valued?

Getting your home valued is something required by all lenders in order to receive funding for your mortgage.

Lenders will need your property valued for the following reasons:

  • To make decisions about what interest rates and loan amounts they can offer you.
  • To work out your loan-to-value ratio.
  • To protect the lender in case they need to resell the property in the future.

Overall, a home valuation is there to protect both the lender and yourself by ensuring that the mortgage is based on an accurate assessment of the property’s value.

How do I get my home valued?

For Bank of Ireland and Permanent TSB:

If your lender is Bank of Ireland or Permanent TSB, we at moneysherpa will be able to order your home valuation to be carried out by a Certified Valuer accepted by these two banks.

For Haven or Avant Money:

If your lender is Haven or Avant Money, you will receive a code from one of our mortgage advisors where you can order your valuation.

For all other lenders:

If your lender is none of the banks mentioned above, such as AIB or EBS, you will need to go to them directly to order your home valuation.

Note: If your property is over 100 years old, you will need to get an updated structured report, which can cost roughly €500.

How much will a home valuation cost?

A home valuation will cost approximately €150-€200 depending on your lender.

When should I get my home valued?

We recommend getting your home valued as soon as possible. This is because lenders require the property to be insured at the reinstatement value shown on the valuation report, with these valuations being valid for up to 4 months.

Our mortgage advisors will be in contact to advise you on the when you should order your home valuation.

Note: If your lender is Bank of Ireland, you can order your valuation post loan offer. However this is not the case with most lenders, and hence we recommend getting your home valued as soon as you’ve heard word from one of our mortgage advisors.

Key Takeaways- Getting your home valued.

In short, getting a home valuation is something that is required by all lenders.

That’s why it’s important to find out how to get your home valuation from your lender and to do it once you’ve heard work from one of our mortgage advisors, to ensure you get funding for your mortgage as soon as possible.

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