08/10/2026
After getting mortgage approval and going sale agreed on a property, most lenders require a mortgage valuation, or bank valuation, to be completed. A valuation is for the benefit of the lender. It involves an inspection of the property to determine its market value and ensure it is worth the amount being borrowed, therefore reducing the lender's risk. 📉
Most lenders have a panel of valuers for you to chose from. A valuation generally costs €150 - €300 and is payable by the purchaser. Some lenders require that the valuation is dated within 4 months of the date of drawdown of the mortgage.
Generally, a lender will only give you 90% of the value of the property. If the valuation is lower than the purchase price, you may need to renegotiate 🤝 with the seller or provide a larger deposit.
