Valuation schemes.

If you're taking out a mortgage to buy your home, remortgage, raise capital or carry out home improvements or repairs, we'll want a professional opinion of the property’s market value. We choose the valuation surveyor, who will be employed by our surveying service or appointed from our panel of valuation and surveying firms.

If you're applying for a remortgage or additional borrowing, we'll arrange for a property assessment or revaluation for our own use – you won’t need to do this yourself. We choose how the valuation is done. We may arrange for someone to go and inspect the property, or we may use a database that analyses the values of comparable properties. You may be asked to pay the costs of this. When you apply for a new mortgage, we'll ask you to choose from three levels of inspection and report.

Level 1 Valuation report

This is the most basic property valuation and the least expensive type of report. It enables us to decide whether we want to lend you the money to buy the property. It gives you limited information about the property. So if you choose this type of valuation, bear in mind that the report may not mention defects that may have affected your decision to buy.

Level 2 Survey and valuation

This is a survey for you and a basic valuation for us. The survey gives you guidance on the essential things you may need to know about the property, such as defects and problems that are serious or that may significantly affect the value.

The survey is arranged as a contract between you and the valuation surveyor. As part of the contract, the valuation surveyor will send you the terms of their work agreement with you, for you to read and sign before the inspection. You'll get a copy of the report, we don't. We receive a copy of the valuation and any significant observations that may affect our decision to lend you the money to buy the property.

Level 3 Building survey

This is the most comprehensive type of survey, and the most costly. Again, the survey is arranged as a contract between you and the surveyor. You'll receive the terms of its agreement with you so that you can read and sign them before the inspection.

A building survey is a detailed report that can be tailored to fit your needs. The surveyor will discuss what kind of report you want beforehand.

Building surveys don't provide a valuation of the property, so you'll need to take into account the extra cost of a level 1 valuation report.

Valuation fee promise

Currently, as a concession, if your house purchase falls through and you go on to start a new mortgage with us on a different property, we'll refund the first valuation fee you paid us – but only if we instructed the valuation surveyor. We'll send you the refund after your mortgage has started.

This concession is available for house-purchase loans and you must be buying the property to live in yourself. We'll only refund a level 1 or 2 valuation fee.

The Valuation Fee Promise may be withdrawn at any time. Before you apply for a loan please ask us if the offer is still available.


The table below illustrates the current fees we will charge for a level 1 valuation report or a level 2 survey and valuation. As the level 3 building survey can be tailored to fit your needs, which will impact the work the surveyor will carry out for you, we can't confirm how much this will cost in advance. Once you have discussed your requirements with the surveyor, they will provide a quotation.

Please note that as a building survey doesn't provide a valuation of the property, you will need to take into account the extra cost of a level 1 valuation report.

Purchase price no more than Level 1
Valuation report only
Level 2
Survey and valuation
£50,000 £240
£100,000 £280 £465
£150,000 £315 £495
£200,000 £355 £545
£300,000 £430 £665
£400,000 £500 £795
£500,000 £565 £940
£600,000 £620 £1,080
£700,000 £680 £1,225
£800,000 £735 £1,365
£900,000 £790 £1,510
£1,000,000 £845 £1,650
£1,200,000 £960 £1,850
£1,400,000 £1,070 £2,055
£1,600,000 £1,185 £2,255
£1,800,000 £1,295 £2,460
£2,000,000 £1,410 £2,660
Over £2,000,000 Fee on application Fee on application


The fee includes VAT (if applicable) and a £100 administration charge.

If the purchase price is discounted then the valuation fee will be based on the valuation figure. Prices correct at February 2016.  

Revaluation Fee for Additional Borrowing

Estimated Value up to and including Valuation Fee including VAT if applicable.
£150,000 £108
£200,000 £128
£300,000 £165
£400,000 £200
£500,000 £233
£600,000 £260
£700,000 £290
£800,000 £318
£900,000 £345
£1,000,000 £373
£1,200,000 £430
£1,400,000 £485
£1,600,000 £543
£1,800,000 £598
£2,000,000 £655
Over £2,000,000 Fee on application

Your home may be repossessed if you do not keep up repayments on your mortgage.