The customer pays the bank, but has no guarantee that the loan will be granted

The Consumer Protection Association (DECO) warns that consumers pay an average of 232€ for an assessment of the house required by the bank, but the appraisers company pays them half.

Speaking of the process of granting credit, the bank instructs an independent appraiser to produce a property valuation. The customer pays the bank, but has no guarantee that the loan will be granted. If it is not, the customer has to go to a second institution and pay again and so on, although the so-called portability of the evaluation is foreseen in law, in practice this report will not be accepted by another banking institution.

Similarly to what already exists in Spain, Deco requires that the consumer can choose the appraiser and use a single valuation in several institutions for the process of granting credit: "After six years since our last claim on the subject, almost everything is exactly the same in the process of granting loans, banks still require the valuation of the property and impose the entity that provides the service, " reveals the association.

Both DECO and Casas do Barlavento believe that the portability of evaluation reports would lead to a shift in the power of negotiation to the consumer side.

Source Diario Imobiliário