What Is a Mortgage Valuation?
A basic assessment confirming the property value supports your mortgage. It's for the lender's benefit, not a detailed survey for you.
A mortgage valuation is commissioned by your lender to verify the property is worth enough to secure the loan. It's a basic check - not a detailed survey for your protection. The valuer confirms the property exists, notes its type and condition, compares to recent sales, and identifies any obvious concerns. Many valuations are now 'desktop' or 'AVM' (automated valuation model) using data without a physical visit. If there's a 'down valuation' (valued below purchase price), you'll need to renegotiate, find extra deposit, or appeal. Regardless of the mortgage valuation, you should commission your own survey (Homebuyer's Report or Building Survey) to check for defects and maintenance issues.
Your home may be repossessed if you do not keep up repayments on your mortgage. A mortgage valuation is not a survey - consider getting a full survey for your protection.
Key Points
- 1Commissioned by lender, not you
- 2Basic check - not detailed survey
- 3Often free with mortgage products
- 4Takes 15-30 minutes if physical visit
- 5Desktop valuations use data, no visit
- 6Get your own survey for protection
Eligibility Criteria
- Required for most mortgage applications
- Lender arranges and pays (or charges you)
- Property must be accessible for visit if required
- Some properties need physical valuation
- Non-standard properties may need specialist valuer
Typical Timeframe
Valuations are typically arranged within 1 week of your full mortgage application. Physical visits take 15-30 minutes; desktop valuations are instant. The report usually returns to your lender within 2-5 working days.
Next Steps
- 1Wait for lender to arrange valuation
- 2Ensure property is accessible if visit needed
- 3Commission your own survey separately
- 4Discuss any down valuation with broker
- 5Understand the difference: valuation vs survey
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Mortgage ApplicationContent reviewed: 13 January 2026