The changing value of property over a mortgage’s lifetime
Over a typical 30-year mortgage (hipoteca), property values can fluctuate significantly. While many assume values trend upward, market shifts, local developments, and property conditions can lead to unexpected decreases. For banks, financiers, and mortgage brokers, understanding these changes is essential, particularly in foreclosure scenarios.
Why regular property valuations matter
Survey Spain Chartered Surveyors, regulated by RICS and RICS Registered Valuers, offer globally recognised property valuations. Our valuations are accepted worldwide, though not officially recognised as tasadores in Spain. Our network spans the Costas of Spain, the Balearic Islands, and the Canary Islands, providing comprehensive coverage for foreign banks and financiers.
For example, we work closely with a Nordic bank that requires regular revaluations of properties under mortgage. These valuations include alternating “Drive-By” inspections and “Desktop” investigations, offering updated insights into property conditions and neighbourhood trends.
The risk of foreclosure without updated valuations
For lenders, the risk of outdated valuations becomes evident during foreclosure. Over decades, property conditions, local market shifts, and legal frameworks can drastically impact a property’s worth. Regular valuations provide clarity and reduce risks by ensuring an accurate assessment of property value.
Trust in expert property valuation
Whether you’re a bank, financier, or mortgage broker, engaging with qualified, experienced surveyors is critical. At Survey Spain, our expertise ensures you stay informed about your property’s value—offering peace of mind and reducing uncertainty during foreclosure scenarios.
Property valuations in Span
Regular property valuations aren’t just a formality; they’re an essential part of managing long-term mortgage risks. With the right insights, banks and financiers can protect their investments and make informed decisions during foreclosure.
