Hi folks
I am with nationwide currently on SMR and had intended taking another product when ltv dropped below 80% which based on purchase price of my house which was new in Jan 2011 we are at now....HOWEVER Nationwides valuation index has my property almost 20k below purchase price which puts our ltv about 85 % despite Zoopla valuing it 7k above purchase price.
Our exact type of house is available to buy new from our builder Cala within 500m from ours however the 2 available plots are 20 and 23k more than we paid!
I have complained/argued with Nationwide and the call centre chap wasn't the best however the complaints handler was very nice, understanding and sympathetic but basically it's company policy to use the index and tough luck was the nicely put conclusion to our discussion.
I am not best pleased as I offered to provide a survey to back up my position and was told they wouldn't accept it even though this is what new customers get their valuations on. So if I leave Nationwide and go back in a few years the valuation will be based on...yup, a survey!!
This seems like utter madness to me, I am a loyal Nationwide customer who they are about to lose through ridiculous inflexibility so I guess I m looking to find out:
Does anyone else have experience of this, my letter from Nationwide said if I want to complain further it's the ombudsman which frankly I don't want to waste my time doing
Who should I go to for a decent fixed rate around 80% ltv?
How do I ensure my house gets a fair valuation if I use the Zoopla figure I'm below 80%
The final flaw with Natuonwides index is labelling Scotland as a region. Whilst I wouldn't expect variations to street or even county level how they can call a system which measures chnges in the value of a flat in Aberdeen alongside a house in Glasgow is beyond me.
Anyway rant over!
Advice please....first post on the forum, I won't make them all this long!!
Cheers
I am with nationwide currently on SMR and had intended taking another product when ltv dropped below 80% which based on purchase price of my house which was new in Jan 2011 we are at now....HOWEVER Nationwides valuation index has my property almost 20k below purchase price which puts our ltv about 85 % despite Zoopla valuing it 7k above purchase price.
Our exact type of house is available to buy new from our builder Cala within 500m from ours however the 2 available plots are 20 and 23k more than we paid!
I have complained/argued with Nationwide and the call centre chap wasn't the best however the complaints handler was very nice, understanding and sympathetic but basically it's company policy to use the index and tough luck was the nicely put conclusion to our discussion.
I am not best pleased as I offered to provide a survey to back up my position and was told they wouldn't accept it even though this is what new customers get their valuations on. So if I leave Nationwide and go back in a few years the valuation will be based on...yup, a survey!!
This seems like utter madness to me, I am a loyal Nationwide customer who they are about to lose through ridiculous inflexibility so I guess I m looking to find out:
Does anyone else have experience of this, my letter from Nationwide said if I want to complain further it's the ombudsman which frankly I don't want to waste my time doing
Who should I go to for a decent fixed rate around 80% ltv?
How do I ensure my house gets a fair valuation if I use the Zoopla figure I'm below 80%
The final flaw with Natuonwides index is labelling Scotland as a region. Whilst I wouldn't expect variations to street or even county level how they can call a system which measures chnges in the value of a flat in Aberdeen alongside a house in Glasgow is beyond me.
Anyway rant over!
Advice please....first post on the forum, I won't make them all this long!!
Cheers