Accord Mortgages will now pay a free standard valuation on properties of any value.
Previously it paid the valuation on properties worth up to £1m and borrowers with more expensive homes had to pay the difference.
David Robinson, national intermediary sales manager at Accord, said: “Free should mean free, so taking on board feedback from brokers, and in the interest of treating our customers fairly we’ve made the decision to remove our standard valuation fee cap.
“House prices continue to rise, and we’ve seen the average loan size on mortgage applications increase therefore we feel it’s unfair to disadvantage those shelling out more money to buy a home.
“We hope our new ‘one size fits all’ approach to valuation fees will help those looking to take out larger loans, especially homeowners in London where house prices can easily exceed £1m.”