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Do Bank of Ireland use their own valuers to assess the value of a home

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  • 07-04-2016 3:18pm
    #1
    gazzer
    Registered Users Posts: 4,049 ✭✭✭


    Hi. I am considering applying for a remortgage. The purpose of this is to upgrade the house to be more energy efficient and also to get a lot of work down in the front and back garden.

    To be honest I suspect that the house value may not be much more than my current mortgage but I just want to check and see if I would be eligible to apply for a remortgage before I go down the route of personal loans.

    My mortgage is with Bank of Ireland. I rang them twice today but both times got cut off. Anyway I assume the first step in the process is to get my house valued. Does anybody know if BOI use their own valuers (do they have a list of valuers) or can I use my own?

    Also does anybody know what roughly the price would be for a valuation?

    Thanks


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    #2
    draiochtanois
    Registered Users Posts: 2,655 ✭✭✭draiochtanois


    This post has been deleted.


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    #3
    mickoneill31
    Registered Users Posts: 855 ✭✭✭mickoneill31


    Got mine valued recently by BOI in Swords. Cost €100.


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    #4
    gazzer
    Registered Users Posts: 4,049 ✭✭✭gazzer


    Brilliant. Thanks guys.

    Thats not too expensive. I will give them another call in the morning.


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    #5
    gazzer
    Registered Users Posts: 4,049 ✭✭✭gazzer


    Well I got speaking to a BOI representative earlier this morning. I explained that I was looking to make my house more energy efficient as well as getting some landscaping done and also to consolidate a car loan.

    He crunched some numbers and came back with a provisional monthly mortgage fee. I then asked what the proceedure is for valuing the house, only to be told that "Well that doesnt necessarily have to be done, once you can show a itemised list of the work you want done in the house, that should be sufficient".


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    #6
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    Gazzer- I'd take that with a grain of salt- normal practice is a fresh valuation would have to be done.


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    #7
    newacc2015
    Closed Accounts Posts: 2,379 ✭✭✭newacc2015


    gazzer wrote: »
    Well I got speaking to a BOI representative earlier this morning. I explained that I was looking to make my house more energy efficient as well as getting some landscaping done and also to consolidate a car loan.

    He crunched some numbers and came back with a provisional monthly mortgage fee. I then asked what the proceedure is for valuing the house, only to be told that "Well that doesnt necessarily have to be done, once you can show a itemised list of the work you want done in the house, that should be sufficient".

    You should go to a CU or get a personal loan. You should use a mortgage to carry home improvements or for a car loan. If you plan on taking out a long mortgage, the cost of credit will be several more expensive in the long run than a CU loan


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