You are here: Home - Mortgages - First Time Buyer - News -

Barclays offers free surveys on homes worth up to £2m

Written by:
Barclays has rolled out free valuations for customers taking out a residential mortgage on properties valued up to £2m, in a move that the lender said could save clients as much as £930.

Customers can also benefit from no upfront mortgage-related fees if they choose a deal without a product fee.

In a broker note, Barclays said it had also started to use automated valuations for selected purchase cases, subject to location and availability. If available, brokers will be able to see that ‘no valuation is required’ in the lender’s application system.

Criteria changes made by Barclays over recent months include the launch of two seven-year fixed rate mortgages for the same cost as its equivalent five-year products, and a lower stress rate for residential borrowers after the Bank of England Base Rate cut.

Andrew Montlake, director at Coreco, said: “This is another great move from Barclays who have continued to make some impressive tweaks to their criteria and processes over the past 12 months. For those looking at purchasing a property any cost savings that can be made at the moment are especially welcome and a free valuation represents a saving for many. Whilst some other lenders already do this, the more lenders that follow this route the better for consumers.

“We would always recommend a client has their own more detailed survey done for their own personal use and this will enable many more to do this who maybe could not afford the cost of an additional survey before.”

For more, read our Guide to valuations and surveys

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

  • RT @YourMoneyUK: Government plans cut to minimum shared ownership stake
  • RT @WeareJust_PR: “Families tend not to talk about money and death. But if we don’t talk about these themes it becomes very hard to make pr…
  • RT @RoyalLondon: Voluntary NI contributions to state pensions have risen - @stevewebb1 hails this as “great news that the message is gettin…

Read previous post:
September house prices rise after two-month dip

The price of property coming to market in September rose after two consecutive falls in July and August, driving up...