Introduction of Home Information Packs could lead to higher valuation costs

March 2005
Credit Control;2005, Vol. 26 Issue 3, p55
Trade Publication
The article reports that the Mortgage Advice Bureau (MAB) in Great Britain has issued a warning that introduction of home information packs could result in a dramatic increase in costs if lenders don't accept the validity of home condition reports. The Bureau believes lenders may continue to insist on a separate valuation from a chartered surveyor before offering a mortgage decision. Brian Murphy, lending manager at MAB, explained that the MAB has found that lenders are concerned about the level of qualification required to become a home inspector compared to a chartered surveyor.


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