Barclays has introduced free valuations for residential purchases.
A free valuation worth £930 is now available for the purchase of buildings up to the value of £2m, meaning homebuyers could get their mortgage approved without paying fees.
In some cases Barclays uses a swift, automated valuation process.
Tony Fullbrook, head of purchase, mortgages said: “We’re pleased to be able to reduce the upfront costs for customers who are buying a home or moving home, by removing the mortgage valuation fee for properties up to £2m.”
“This will help both first time buyers and home movers with a saving of between £160 and £930 depending on the property value. We already carry out free valuations for remortgages so it’s great to be able to extend this to home purchases”