A standard valuation must be completed on all BTL properties.
The only acceptable valuation type is an internal inspection by a panel valuer. Transcripts are not permitted.
Reports and retentions
Where a valuer requests specialist reports, such reports will be referred to the valuer for analysis and comment prior to any offer being issued. No funds will be released until the property has been confirmed as suitable for lending.
Accord BTL will not hold any retentions for works to be completed. The property must be suitable for immediate letting at the time of the valuers inspection.
Minimum property value
The minimum property valuation is £75,000 (in current condition). The property must be suitable for immediate letting at the time of valuation.
The minimum property valuation for new build properties is £100,000.
Rental valuation
The rental value figure must be on an unfurnished gross monthly basis on an Assured Short hold tenancy for 6 months or on a proper tenancy if the rent is over £100,000 pa (equivalents in Scotland and Wales). There must be good demand for rental property in the area concerned.
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