Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Advice on PTSB Valuation

Options
  • 22-09-2018 12:54pm
    #1
    SvenBertil
    Registered Users Posts: 3 ✭


    Hi there,
    Was wondering if someone could offer some advice on this. It seems PTSB with their valuer are trying to screw me. I wanted to switch from a  standard variable to MVR at PTSB. In order to do this they issued me with a voucher for a property valuation BUT only from approved valuers.
    As suspected the valuation was carried out this week and was very low. The valuation was 125,000 and was what I paid for the house in 2003. I got another valuation from another company following this and it was 185,000. Of course PTSB will not recognise this.
    Have I any grounds to contest the PTSB valuation is too low?

    Mod Note
    Title altered to remove the name of bank and allegations of a scam by them.


Comments

  • Options
    #2
    Fol20
    Registered Users Posts: 3,624 ✭✭✭Fol20


    SvenBertil wrote: »
    Hi there,
    Was wondering if someone could offer some advice on this. It seems PTSB with their valuer are trying to screw me. I wanted to switch from a  standard variable to MVR at PTSB. In order to do this they issued me with a voucher for a property valuation BUT only from approved valuers.
    As suspected the valuation was carried out this week and was very low. The valuation was 125,000 and was what I paid for the house in 2003. I got another valuation from another company following this and it was 185,000. Of course PTSB will not recognise this.
    Have I any grounds to contest the PTSB valuation is too low?

    EA are independent of PTSB and they have to cover their backs also. If they have multiple approved ea, try and get another approved one to value it and when your talking to the valuer. Use property price register combined with a quick chat of oh I got my own guy from x comp and he thought it would go for this. The difference in values between the two figures above is substantial so it might be more respectible to be somewhere in the middle.


  • Options
    #3
    SvenBertil
    Registered Users Posts: 3 ✭SvenBertil


    Yes but how to approach this?


  • Options
    #4
    bleary
    Registered Users Posts: 495 ✭✭bleary


    Why don't you go with another bank, Ptsb aren't very competitive rates wise.

    banks have approved valuation assessors. You can't use any one you want or else people could get anyone they want to assign whatever vale they want. That's the case with all banks I think, it certainly was with aib for me .

    The value an ea will give when trying to get your business is very different from one you get for the purposes of a mortgage .
    And I don't think there is collusion or anyone trying to screw you. Valuations can differ , you can try someone else from the list or ask their ea why the valuation is lower than expected.


Advertisement