Mortgage Broking

Mortgage Broking

Herron Todd White provides independent Mortgage Broking backed by local expertise and national consistency.

Frequently Asked Questions

Can a broker order a valuation for a loan?

Mortgage security valuations are instructed by the lender, which is our client. Some lenders let brokers start the request through their valuation platform, but the lender still instructs the valuation and receives the report.

Can my client use a private valuation for their loan?

No. Lenders won't accept a valuation ordered privately by the borrower, and will instruct their own. A private valuation is still useful before the purchase, to help your client set a price limit the market supports.

Why might a valuation come in lower than the contract price?

Valuers base their assessment on recent comparable sales. If your client paid more than those sales support, the valuation may not match the contract price. If you know of relevant sales that may not have been considered, you can ask the lender to pass them on for review.

Can my client get a copy of the valuation report?

When a lender orders the valuation, the lender is our client and owns the report. Your client can ask the lender for a copy, subject to the lender's policies.

What should my client prepare for the inspection?

Make sure the valuer can access every part of the property, and have details of any recent renovations ready, ideally with invoices. For construction loans, have the plans, specifications, and building contract available.