How much will the Valuation Fee cost?

The cost of the valuation fee depends mainly on your mortgage provider.

The valuation fee covers the cost of the mortgage provider evaluating your prospective property to ensure that it merits the price you are paying. This is a precautionary measure so they know that if they need to repossess the property, they will be able to recover what they are owed. The mortgage lender does not legally have to show you the results of the survey and many lenders are covered by a non-disclosure clause which protects them from legal action if it transpires that their surveyor did not value the property correctly.

The valuation is simply a verification of the market value of the property. It is not a survey for structural or other faults. To check the stability of the property itself, you need to arrange a building survey.