Loan security valuation Flashcards

1
Q

What different loan security purposes do you value for?

A
  • Resi mortgages
  • BTL mortgages
  • Commercial loans
  • Short term finance
  • Secured loans
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

How does your approach differ for different loan types?

A

Different loan types often have different requirements. For example, short term finance often is used for refurb works which requires comments on proposed works.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Talk me through the lending credit risk management process.

A
  • Identify borrowers and loan types.
  • Establish a credit policy and lending criteria.
  • Review loan applications and underwrite borrowers.
  • Assess credit risk using credit scores and data.
  • Approve loans based on creditworthiness.
  • Set loan terms, interest rates, and fees.
  • Formalize agreements and disburse funds.
  • Continuously monitor borrower performance.
  • Mitigate risks and take remedial actions.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What role does risk management have in property lending decision?

A

Risk management dictactes lenders policy and how and what they grant loans on

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What are key differences between a loan security valuation and a valuation for another purpose?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

How do lenders use the valuation report to determine the suitability of the property for lending?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

How do you determine your competence to undertake loan security valuations?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What effect does council tax (or other taxes) have on the value of a property?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What factors could influence a lender’s decision to proceed?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

How is lending controlled?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What risk analysis techniques are used?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What is personal credit scoring / credit risk analysis / risk predictive modelling?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

How do lenders identify risk?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What is the purpose of an audit department?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

How do you work with yours?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What is mortgage fraud?

A

Intentional misstatement, misrepresentation, or omission of information relied upon by an underwriter or lender to fund, purchase, or insure a loan secured by real property.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

When may it occur?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

How do you reduce the risk of mortgage fraud?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

What is an SAR and when might you submit one?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

What is the role of debt finance in property?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

What types of debt are you aware of?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

When might they be used?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

What due diligence would you carry out for a loan security valuation?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

What financial products are relevant to your market?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

What negligence caselaw are you aware of relevant to your duty of care?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

Explain the duty of care you owe to an owner occupier and commercial BTL investor.

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

What caselaw relates to this?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

What do you understand by the Smith v Bush and Scullion v Bank of Scotland cases?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

hat do you understand by the Harris v Wyre Forest DC case?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

Explain the industry-wide process to value tall buildings.

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

What height of building does this relate to?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
32
Q

Why has this process been introduced?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
33
Q

What is the External Wall Fire Review?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
34
Q

How does this work?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
35
Q

hat do EWS 1 forms no longer need to be used for?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
36
Q

How would you complete a EWS 1 form?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
37
Q

How would you value a building over 18m where materials are thought to be potentially combustible?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
38
Q

hat RICS guidance relates to how you would approach the valuation of a multi-occupancy high rise building with combustible cladding?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
39
Q

How would you decide which approach to take in this type of valuation?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
40
Q

What is a FRAEW?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
41
Q

How would you consider a FRAEW on a secured lending instruction?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
42
Q

What is a FRAEW produced under?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
43
Q

What is PAS 9980?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
44
Q

What other considerations would you make on a secured lending valuation of a multi-occupancy high rise building?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
45
Q

What issues are you aware of in relation to mortgage lending and spray foam insulation?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
46
Q

Explain your understanding of how a lender might consider non- traditional forms of construction.

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
47
Q

Explain what RICS guidance has been published relating to secured lending valuations of residential blocks of flats.

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
48
Q

What does this Guidance Note say about EWS1 forms and when they are required due to visible cladding?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
49
Q

When is the guidance effective from?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
50
Q

What RICS guidance relates to residential leasehold properties and secured lending valuation?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
51
Q

What principles from this are you aware of?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
52
Q

What sections of the Red Book and the UK National Supplement should this guidance be read alongside?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
53
Q

How do you comply with VPGA 2 of the Red Book Global?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
54
Q

Explain what VPGA 2 says about previous or current involvement.

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
55
Q

What type of involvement might result in a conflict of interest?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
56
Q

you were instructed by a party who is not the intended lender, e.g., a prospective borrower or broker, how would you record this in your terms of engagement?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
57
Q

Do you need to enquire whether the subject property has been subject to a recent transaction or provisionally agreed price, if so – why?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
58
Q

What do the terms ‘mark to model’ and ‘mark to market’ mean?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
59
Q

When might you agree a special assumption in a secured lending valuation?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
60
Q

Explain the additional reporting and disclosure requirements set out by VPGA 2.

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
61
Q

How would you apply VPGA 2 to a property that is, or will be, owner- occupied / held as an investment / intended to be or the subject of development or refurbishment?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
62
Q

How have you applied UK VPGA 10, 11, 12 or 13 (depending on specific valuation and asset type)?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
63
Q

What does the UK National Supplement say about the use of the DRC method?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
64
Q

How would you formalise any communication channels with the borrower?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
65
Q

What is a panel agreement?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
66
Q

Explain your understanding of the RICS Residential Mortgage Valuation Specification.

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
67
Q

Where would you find this?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
68
Q

How do you reconcile any differences between the 2014 and current UK National Supplement editions when referring to the RICS Residential Mortgage Valuation Specification?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
69
Q

If you provide advice on residential mortgages, what FCA guidance are you regulated by?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
70
Q

What is a regulated mortgage contract defined as?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
71
Q

Under a regulated mortgage contract, what is residential property defined as?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
72
Q

What is the role of the FCA in relation to secured lending?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
73
Q

What is the role of the valuer under UK VPGA 11?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
74
Q

What is Projected Market Value (PMV) defined as?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
75
Q

What are the specific requirements of UK VPGA 11 when adopting PMV as a basis of value?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
76
Q

Is PMV a projection or a forecast?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
77
Q

Does PMV require the valuer to adopt a special assumption?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
78
Q

What does UK VPGA 11 say about the extent of a valuer’s inspection and investigations?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
79
Q

In this respect, is the valuer expected to investigate roof voids and under floor voids?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
80
Q

Should the valuer move furniture and floor coverings?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
81
Q

Should the valuer test services?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
82
Q

Should the valuer consider the EPC rating?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
83
Q

What additional requirements relate to the inspection of a flat or maisonette?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
84
Q

How should you record a lender’s instruction to provide a valuation without internal inspection?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
85
Q

What level of investigations are required by the valuer into legal, planning and environmental matters?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
86
Q

What assumptions does UK VPGA 11 require the valuer to make without verification, unless limited enquiries reveal otherwise?

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
87
Q

Explain some of the reporting requirements set out by UK VPGA 11.

A
88
Q

How should the valuer treat incentives in a secured lending valuation?

A
89
Q

How would a valuer report an insurance replacement cost if requested by the lender?

A
90
Q

How would you adhere to the BCIS guidelines in doing so?

A
91
Q

Explain the valuation basis where a property is the subject of possession proceedings following default.

A
92
Q

How would the absence of a new build warranty affect value and security for lending purposes?

A
93
Q

How would you deal with speculative development value in a mortgage valuation?

A
94
Q

Explain your understanding of Section 13 of Building Societies Act 1986 in relation to inspection for a mortgage valuation.

A
95
Q

How would you inspect a loft for a mortgage valuation?

A
96
Q

Would you inspect the drains during a mortgage valuation inspection?

A
97
Q

When might a property be declined for secured lending purposes based on condition?

A
98
Q

What other reasons may lead to a property being declined for secured lending purposes?

A
99
Q

What does ‘secured lending’ mean?

A
100
Q

How would you report on the impact of a defective property being repaired in a secured lending valuation?

A
101
Q

How could an unrepaired property affect mortgagability?

A
102
Q

How would a repaired property, but not under a certified scheme, affect mortgagability?

A
103
Q

Explain how you would value a MMC residential property for secured lending purposes.

A
104
Q

Who provides warranties for MMCs and how would you report on these to a lending client?

A
105
Q

Why did the Bank of England withdraw the affordability test? What different loan security purposes do you value for?

A
106
Q

How does your approach differ for each?

A
107
Q

Talk me through the lending credit risk management process.

A
108
Q

How is lending controlled?

A
109
Q

What risk analysis techniques are used?

A
110
Q

What is personal credit scoring / credit risk analysis / risk predictive modelling?

A
111
Q

How do lenders identify risk?

A
112
Q

What is the role of debt finance in property?

A
113
Q

What types of debt are you aware of?

A
114
Q

When might they be used?

A
115
Q

Talk me through a loan security valuation you have carried out.

A
116
Q

How have you incorporated lender’s specific requirements into a valuation?

A
117
Q

hat research have you undertaken into factors affecting risk?

A
118
Q

What factors have you come across that affect the ability to obtain finance?

A
119
Q

How have you dealt with the situation where a lender’s requirements differ to those of the Red Book?

A
120
Q

Talk me through Terms of Engagement you have agreed.

A
121
Q

How have you complied with valuation standards within these?

A
122
Q

What research have you carried out into factors affecting valuation certainty?

A
123
Q

What local / wider market factors have affected a valuation you have carried out?

A
124
Q

Tell me about when you have valued a property subject to a special assumption.

A
125
Q

Tell me about how you would report to lenders / NCA about potential fraud or suspicious activity.

A
126
Q

At Victoria road, how do you determine what reasonable condition is?

A
127
Q

Talk me through your valuation?

A
128
Q

At High Street - why was the retention £10,000?

A
129
Q

What do you base retention amounts on? Why?

A
130
Q

At Potterton, why was no valuation provided?

A
131
Q

Tell me about when you have provided complex reasoned quantitative valuation advice to clients in the form of compliant valuation reports.

A
132
Q

Tell me about when you have used a SWOT analysis, commented on loan terms, commented on future performance of the investment or commented on the influences of the wider market.

A
133
Q

Describe the complex reasoning behind your recommendations to client in order to mitigate risk.

A
134
Q

Tell me about a specific valuation report you have provided in accordance with valuation standards.

A
135
Q

How have you incorporated a valuation comparable matrix, sensitivity analysis or other evidence of valuation methodology and approach into a valuation report

A
136
Q

Talk me through a specific valuation report you have provided in accordance with valuation standards, incorporating appropriate narrative on the strengths and weaknesses of the investment, marketability if the lender was to re-possess and the risks involved in lending in the property in relation to the loan terms.

A
137
Q

ow have you identified and explained the risk profile of property and how it affects clients’ needs in terms of advice, i.e. why do they need advice?

A
138
Q

Explain your valuation advice on a property’s suitability for secured lending.

A
139
Q

Explain your reasoned advice where properties are not considered suitable for secured lending due to Red Book or lenders’ requirements.

A
140
Q

Marykirk- tell me how you arrived at current and projected market values?

A
141
Q

What was your reasoned advice to the client regarding the condition of the property?

A
142
Q

Maryculter - Discuss the advice given with self build properties?

A
143
Q

What is the impact of this?

A
144
Q

92 property portfolio - tell me about the advice with the unum quid value?

A
145
Q

How did this impact the decision making and advice given?

A
146
Q

What are your level 2 examples?

Summary of Experience

A
  • Remortgage of a flat on Victoria Road - Took various notes on the property during inspection and produced valuation of property. No significant factors that contradicted lenders guidance were noted and therefore property was reported as suitable security for lender.
  • Home Report of property on High Street - large amounts of dampness was noted to areas of wall linings in the basement. The damp was extensive and posed a risk to the security if it was left. In GMVR the dampness was reported as an essential repair and a £10,000 retention was included as it was likely the large property would require tanking.
  • MVR of bungalow in Potterton - Property was of non-traditional ‘Scandanavian Timber Frame’. Lenders guidance stated that they did not accept this type of construction therefore it was reported as unsuitable security.
147
Q

What are your level 3 examples?

A
  • MVR of property in Marykirk - During Home Report areas of dampness were noted within the property, within the roofspace some areas of sarking were very damp. Externally, the roof was in a poor state of repair with various damaged tiles. Exposed electrics were also present throughout the property. Advised lender that property had seveal large defects and that a roofing contractor and electrician should be instructed to investigate defects and prepare reports on repairs needed. Included a retention of £10,000. Provided lender with market value in current condition and market value on completion of repairs.
  • Self build in Maryculter - Instructed to carry out reinspection of self build property. Self builds often mean providing valuation advice on partly finished properties. In this particular case the property was nearly completed and the lender only required a valuation on completion.
  • Large portfolio in Aberdeen - Valuation of residential portfolio in Aberdeen for commercial lending purposes. Lender requested that we provided a unum quid value as well as an aggregate portfolio value. In this case the unum quid was lower than the aggregate value.
148
Q

What parts of the Red Book Global & UK apply to secured lending?

Loan Security Valuation - Level 1

A
149
Q

What does VPGA 2 say?

Loan Security Valuation - Level 1

A
150
Q

What does UK VPGA 11 say?

Loan Security Valuation - Level 1

A
151
Q

What enhanced protocols and disclosures are there when accepting loan security work?

Loan Security Valuation - Level 1

A
  • No previous, current or anticipated involvement with the borrower, or prospective borrower, the asset to be valued or any other party connected with a transaction for which the lending is required. ‘Previous involvement’ would normally be anything within the period of 24 months preceding the date of instruction or date of agreement of the terms of engagement (whichever is earlier), but a specific longer period may be prescribed or adopted in individual jurisdictions.
152
Q

What happened in Scullion v Bank of Scotland?

Loan Security Valuation - Level 1

A
  • Scullion bought a flat with the intention of using it as a BTL
  • Bank instructed surveyor to prepare valuation and supply rental figure. Rental prospects had been overstated and Scullion was forced to sell the property. Scullion attempted to sue the surveyor for overstating the rental figure which resulted in him having to sell the property.
  • Case established that the duty of care owed by a surveyor to a mortgagee to prepare its valuation report with skill and care did not apply where the transaction concerned an investment rather than an ordinary domestic householder purchasing a home
153
Q

Why do some lenders not accept Scandanavian Timber Framed properties?

Loan Security Valuation - Level 2

A
  • Doesn’t suit lenders appetite for risk
154
Q

What financial products are available within your area of property?

Loan Security Valuation - Level 1

A
  • Conventional residential mortgages
  • Buy-to-let mortgages
  • Commercial lending
  • Bridging finance
  • Self-build funding
  • Secured loans
155
Q

How did you arrive at your current market value and projected market value at Marykirk?

Loan Security Valuation - Level 3

A
  • The projected market value was the market value of the property in good condition with the required repairs having been carried out
  • The current market value is the projected market value minus the cost of works
156
Q

What advice did you give your client regarding the condition of Marykirk?

Loan Security Valuation - Level 3

A
157
Q

What advice did you give at the self build in Maryculter?

Loan Security Valuation - Level 3

A
158
Q

What was the impact of the advice you gave regarding the self build at Marycutler?

Loan Security Valuation - Level 3

A
159
Q

What advice did you give regarding the Unum Quid value for the 92 property portfolio?

Loan Security Valuation - Level 3

A
160
Q

How did the advice you gave for the portfolio impact the decision making of your client?

Loan Security Valuation - Level 3

A
161
Q

Why did you provide a nil value at Potterton?

Loan Security Valuation - Level 2

A
162
Q

Why was your retetion at High Street £10,000?

Loan Security Valuation - Level 2

A
163
Q

What do you base your retetion amounts on?

Loan Security Valuation - Level 2

A
164
Q

At Victoria Road, how do you determine what reasonable condition is?

Loan Security Valuation - Level 2

A
165
Q

Talk me through your Victoria Road valuation

Loan Security Valuation - Level 2

A
166
Q

Talk me through your level 3 examples

Loan Security Valuation - Level 3

A
167
Q

Talk me through your level 2 examples

Loan Security Valuation - Level 2

A
168
Q

Why would a commercial style report be instructed?

Loan Security Valuation - Level 3

A
169
Q

How do commercial reports differ to standard MVRs?

Loan Security Valuation - Level 3

A
170
Q

What is a unum quid value?

Loan Security Valuation - Level 3

A
171
Q

How did you arrive at your unum quid value?

Loan Security Valuation - Level 3

A
172
Q

Whats an aggregate value?

Loan Security Valuation - Level 3

A
173
Q

You said that the unum quid was lower in this case, is it always lower?

Loan Security Valuation - Level 3

A
174
Q

What other advice did you give the client for the portfolio?

Loan Security Valuation - Level 3

A
175
Q

What is staged payements?

Loan Security Valuation - Level 3

A
176
Q

What stages of construction would you provide advice at?

Loan Security Valuation - Level 3

A
177
Q

How would you value a partly built property?

Loan Security Valuation - Level 3

A
178
Q

Where did the retetion come from for the Marykirk example?

Loan Security Valuation - Level 3

A
179
Q

What were the defects at Marykirk?

Loan Security Valuation - Level 3

A
180
Q

Why did you include a retetion?

Loan Security Valuation - Level 3

A
181
Q

When would you use the investment method to value for LSV? Would you use it for a single residential property? Why/why not?

A
182
Q

What is topical in the field of LSV?

A
183
Q

How do you advise on LSV regarding flats with cladding or balconies?

A
184
Q

When have you advised on marketability?

A
185
Q

When would you advise that a property is unsuitable for secured lending?

A
186
Q

Would you advise on the amount or percentage of loan a lender should consider?

A
187
Q

How would you decide if a proposal represented a low/medium/high risk for the lender?

A
188
Q

How do you decide what a reasonable marketing period is?

A
189
Q

What is PMV? How does if differ from MV? Is it always lower? Theoretically, could it be higher? Why wouldn’t you do that?

A
190
Q

When does the Red Book say PMV must be used? What are the other circumstances when it is often requested?

A
191
Q

Why do lenders sometimes ask for a MV with restricted marketing period? How do you establish that? What is the difference between that and PMV?

A
192
Q

What types of valuation can be reported as a LSV?

A
193
Q

Can a Residual be used as a LSV? What if direct comparison suggests a different value?

A
194
Q

How have lenders reacted to repeal of ‘Designated defective’ status in Scotland?

A
195
Q

How do you advise on LSV for a stage payment on a new-build or conversion?

A
196
Q

Why are retentions imposed? How do you decide if one is necessary and/or how much?

A
197
Q

Why don’t you include rental values in the GMVR in a Home Report?

A
198
Q

Why do BTL lenders ask for a rental figure as well as MV?

A
199
Q

How do you advise on LSV if the property is already tenanted?

A
200
Q

Do you report rental value as furnished or unfurnished?

A
201
Q

Can you describe any case law relating to LSV?

A
202
Q

What are the potential sources of mortgage fraud?

A
203
Q

What is a Standard Security?

A
204
Q

Why might a LSV differ from conventional Market Value?

A
205
Q

What standard assumptions are valuers permitted to make?

A
206
Q

When would you report on the basis of a Special Assumption?

A
207
Q

Why are lenders especially cautious about new-builds/BTLs/HMOs?

A
208
Q

Give examples of property features lenders often reject as unsuitable?

A
209
Q

How does type of construction influence your advice on LSV?

A
210
Q

How does the number of lenders that will accept a property influence your LSV?

A
211
Q
A
212
Q
A
213
Q

Why do lenders ask for a LSV?

A
214
Q

Are any lenders required to obtain a LSV by law?

A
215
Q

What are the sources of risk to a lender and a valuer? mitigate risk?
How do lenders and valuers

A