theRatandMouse - London's property blog

The surveyors' role in the credit crisis has been raked over often enough... from naive running with the herd to cynical serving of the mortgage machine. Caught with their pants down, then; they're pulling their belts so tight, now, their eyes are bulging. This, from the Daily Mail:

A typical example is a reader from South London who paid £176,000 for a house four years ago. After spending £24,000 on improvements and getting three estate agents round, the house was valued at between £200,000 and £216,000 in February. But when the owners tried to remortgage last month, their bank's surveyor put a maximum price of just £160,000 on it.

I don't know how "typical" those figures are, but the problem is one I've encoutered in conversation with brokers. But who would be a surveyor?

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