Valuation

The easiest way is to increase the limit on your existing LOC through your current lender. They will however have to revalue the property depending on the valuer they use depends on how conservative the valuation will be. When I got mine done I did a bit of research and had supporting evidence to support the value I believed it was worth and gave that to the valuer.

Investor Finance
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thats rite, if you find out who is on your banks panel of valuers some of the brokers on here may be able to tell you about some background on particular valuers and their experiences.

another thing to mention is there are a few different types of valuations …
Desktop or EVR (electronic valuation report?)
Kerbside
and Physical

If your property is renovated and improved inside you’d definitely want a physical valuation so they come and inspect throughout the property. If the property is really good front yard and exterior and a not so good decor inside you might be better by having a kerbside valuation.

Investor Finance
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If you are just wanting to increase an existing loan, you must go through the lender. If you order your own valuation, it is unlikely to be accepted. If they do accept that valuer, it may still have to be reassigned = another fee.

Can you tell us who the lender is?

Terryw
Discover Home Loans
Parramatta
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