46% of UK properties have been down valued since before Covid-19

19 October 2020 | General

Nearly half (46%) of buyers saw their prospective properties down valued by their mortgage lender, Bankrate UK research has found.

Buyers looking to purchase properties in Wales had the highest percentage of down valuations at 63%.

In second was the capital, as 59% of London properties were deemed less valuable by lenders, while 58% were down valued in Yorkshire.

Cottages were the property type that have received the highest proportion of down valuations at 66%, followed by 48% of semi-detached properties.

This post has originally been featured in Property Wire.