Help to Buy Valuation Too High?

[HolidayHun2020]

Hello,

We are trying to remortgage you pay off our help to buy loan. Long story short, we’re in a flat and would prefer to move but made terrible financial choices and simply don’t have enough yet! We’re in our sixth year so paying interest - luckily our mortgage rate is low for the next year.

We’ve just got back the valuation and it’s £410k - which is £5k more then what we paid for the flat and £10k more then the mortgage amount agreed (including equity in the property) £400k (which has been valued by the bank and good to go)

Any ideas on what we can do? It makes no sense, they included three comparable properties in our report one which was £400k, one which was £407k (both exactly the same flats as ours) and one which was £410k and a different layout etc. Is it worth sucking it up and just paying for another surveyor?

There is also the option to just put in the £10k ourselves but this seems stupid in the current climate!! That means we would HAVE to sell it for that amount meaning we are more likely to be stuck - every penny counts for us.

I'd contact the surveyor and ask how they came to that figure, ours was fab - basically asked what we wanted him to put down hah,

Hiya! Do you have a name for your surveyor/company pls?