When you apply for a Home Equity Access Scheme loan, we’ll organise an onsite property valuation. A third party registered valuer will do a free valuation of the property.
The valuer will take into account key factors when putting a value on the property. This is so the valuation will reflect the true current value of the property, at a specific point in time.
Circumstances that may affect the value of the property can be any of the following:
- hills, rocky ground or natural bushland
- unusual title, other loans or mortgages over the property
- soil erosion
- fire, flood or natural disaster damage
- damage or lack of adequate fencing
- water including allocations, licences or no water on property for grazing livestock
- insurance value has fallen below market value of all the buildings on the property.