Valuing your residential or Buy To Let property

Buying a house or remortgaging

If you’re buying a new home or remortgaging, we will need to arrange a valuation as part of the process. This valuation is to check that your loan amount is appropriate for the property’s value, and is deemed ‘suitable security’ for lending purposes.

It’s important to note that this valuation is prepared for Skipton Building Society rather than you, the borrower. As such, in most circumstances, we won’t charge you for it. Additional fees may apply when the property value exceeds £1.5 million, is located off the mainland or in a remote location.

Surveys and valuations

This valuation is not a survey and does not guarantee that the property is free from defects. We strongly recommend booking your own survey which you can pay for separately – please see more information about this below.

The valuation may be a physical, in-person valuation, or a desktop valuation where the surveyor uses publicly available information to assess the property’s value. We may also use a specialist database to compare the property’s details against other comparable homes in the local area.

Royal Institution of Chartered Surveyors (RICS) Home Survey – Level 2 and Level 3

As mentioned above, we would always recommend getting a property survey in addition to the valuation that’s carried out for Skipton Building Society.

A survey won’t delay your mortgage application but could highlight any defects or provide a discussion point around the property’s price. It’s a useful tool that’s designed for the homebuyer and could provide additional peace of mind.

Should you wish to arrange your own survey, one option for you is to contact Connells Survey & Valuations, 01525 218619 and quote "Skipton" with your application number. As a Skipton borrower you can expect to receive a discount on the elevated surveys. Connells will talk to you about the property being purchased, your options and the cost.

This survey will be independent of Skipton and not used for mortgage purposes. Connells is part of The Skipton Group.

Scottish Home Report

In Scotland, sellers must arrange a Home Report before they can market their property. Transcriptions must be carried out by a valuer on our approved panel and must be no more than three months old at the date of application. For any transcripts which are out of date, we will arrange for a mortgage valuation to be carried out.

The valuation is prepared for Skipton (not for the borrower). There may be some additional travel fees if the property is off the mainland or in a remote location. If the property is worth over £1.5 million there may be an additional standard valuation charge.

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