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Lenders and surveyors debate new-build valuation scams (Reuters, January 2006)

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Lenders and surveyors debate new-build valuation scams (Reuters, January 2006)

The Council of Mortgage Lenders and the Royal Institution of Chartered Surveyors have begun talks to deal with reports of over-valuations on new-build properties, following a move by some mortgage lenders to pull out of lending on new developments.

At the beginning of December The Mortgage Works announced that it would no longer accept any new applications for buy-to-let mortgages on newly built properties. The lender will now only accept buy-to-let applications on properties aged over one year. Read more

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