Our short video will help you understand the valuation process we carry out, once we've received your lifetime mortgage application.
Transcript: Valuation guide
Now that we've received your application for a lifetime mortgage, the next step is to value your home.
At Legal & General, we instruct a mortgage valuation to give an independent value of your property and check for any issues which may affect your application for a lifetime mortgage.
The valuation will be carried out by a qualified valuer, who has experience in your local area.
If they haven't already done so, they will soon be in touch to arrange a convenient date and time to visit your property.
On the agreed date, the valuer will arrive and present their ID card.
There are a few things for you to be aware of:
The valuer may be in practical clothing for the environments they work in.
The valuation may take 20-40 minutes, depending on the size of your property, they'll need access to your property and garden, including any garages or outbuildings.
They may take pictures and record results for their report on an electronic device.
Finally, this valuation differs from one of an estate agent, as an estate agent is more likely to provide a higher valuation for negotiation purposes.
Once the valuation is complete, we will receive your report, along with your application assuming everything is acceptable, we'll send you your Offer of Loan, which includes your valuation figure.
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Want to find out more?
The Retirement Lending Advisers (TRLA) are specialist advisers who can answer questions about our Lifetime Mortgages. They're not part of Legal & General they're a separate company.
Call TRLA on 0808 231 6853.
Calls are free. Monday to Friday, 9.00am to 5.30pm. Saturday 9am to 5pm.
TRLA may record and monitor calls.