In purely general terms, would I be correct to think that a property survey demanded by the bridging loan company would be to establish that the property value was equal or in excess of the loan value? The loan therefore being secured.
ie for a loan to value ratio of (say) 25% on a property valued at 100K then providing the loan company surveyor's valuation was in excess of 25K then there should be no fundamental problem with granting the loan.
True or false?
Julian
ie for a loan to value ratio of (say) 25% on a property valued at 100K then providing the loan company surveyor's valuation was in excess of 25K then there should be no fundamental problem with granting the loan.
True or false?
Julian