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Rental Valuations of property

Discussion in 'Buying Overseas Property' started by lorenzo, Aug 31, 2006.

  1. lorenzo

    lorenzo New Member

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    Hi
    I?ve recently bought 4 properties. When they were valued I tried to negotiate with surveyor to obtain as high a rental income as possible shown on the survey, which was fine. However later on I will probably want to get a further advance on the property by obtaining a higher valuation.
    The problem I am having is trying to get the same rental income or higher shown on the second valuation. But this time the lender will have to instruct the valuation and will probably not try to negotiate the higher rent and in some cases as I?ve been told they the rent income can even be lower than the original valuation.
    Regards
    Lorenzo
     
  2. lukas

    lukas New Member

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    Hi Lorenzo,
    Basically, you cannot put a fictitious rental figure on the properties. It is very difficult in UK.
    Example, if rental figures for a certain type of property are on average £500 pcm and you claim they are £700 pcm, the lenders surveyor is going to know this.
    Thank you
    Lukas
     
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