Now, this isn't necessarily what you would list or sell your property on the open market for. Let's be clear about this, an estate agent valuation is often speculative - looking at your top end. In most cases the 'book value' is the most accurate conservative valuation figure that a mortgage lender is comfortable with. Mortgage lenders simply won't accept speculative figures.
Using a 'book valuation' has one main advantage: Your mortgage application could qualify for a 'desktop valuation' and speed through the underwriting process, therefore no physical valuation or inspection of your property would be required in this instance.
We recommend using the book valuation figure on a mortgage search as it is highly likely that a mortgage lender will use this figure to determine your 'Loan to Value' bracket. If you are more speculative with the valuation of your property then it is likely that a mortgage lender will conduct a full physical inspection of your property with a surveyor.
Also, remember to be realistic. If you are using our web app to crunch your investment numbers, the book valuation is going to be the most reliable figure to determine property performance.
Your 'Loan to Value' bracket is important to determine the correct mortgage product available to you in our Mortgage Match section of our app and when sending over your application.
If your own speculative valuation takes you close to a mortgage lender's loan to value bracket, then it is possible that you may not qualify for the mortgage rate you want to apply for. In this instance you will have to choose a different mortgage rate or start your mortgage application again elsewhere.
Your appointed mortgage advisor will always take a look at the valuation figure if you are applying for a mortgage and then carry out their own research to determine the most suitable valuation figure.
The same goes for rental valuations, especially if the rent you are actually receiving is higher than the recommended rental valuation figure.