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Lenders that offer free property valuations

A property valuation helps lenders, buyers and sellers determine what a property is really worth. Here's how you can get one for free.

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You need a property valuation when selling a property or when buying one and applying for a home loan. A qualified valuer will assess the property and determine a likely idea of its worth. This assessment costs money, but some lenders offer free property valuations.

There are certain factors which are used to help valuers determine the monetary value of a property, including location, building condition, fixtures/fittings and the market in the area.

How much does a property valuation cost?

A property valuation from an independent valuer can cost between $200 and $600. Lenders often charge this to you as a valuation fee. But many lenders offer free property valuations.

Compare loans from lenders with no valuation fees

The loans in this table have no valuation fee or offer free valuation up to a certain limit. Always confirm all fees and charges with the lender when applying.

Data indicated here is updated regularly
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Loan purpose
Offset account
Loan type
Repayment type
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Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I
2.44%
2.38%
$0
$0 p.a.
80%
A competitive variable rate mortgage for owner occupiers $0 application and $0 ongoing fees. This interest rate falls over time as you pay off the loan.
Newcastle Permanent Building Society Fixed Rate Home Loan - 2 Year Fixed (Owner Occupier, P&I)
2.54%
3.98%
$595
$0 p.a.
95%
Enjoy a low interest rate home loan. Borrow up to 80% (with mortgage insurance) of your home loan value.
CUA Achieve Variable Home Loan - $500k+ (Owner Occupier, P&I)
2.73%
2.78%
$600
$0 p.a.
95%
Home buyers can get a competitive, low-fee variable rate plus a 100% offset account. Low deposit option available. Eligible new home buyers with low deposits can apply for the First Home Loan Deposit Scheme with this lender and avoid LMI costs. Eligible refinancers can get a $2,000 pre-paid credit card when they switch to CUA.
HSBC Home Value Loan - Promotional Offer (Owner Occupier P&I)
2.59%
2.60%
$0
$0 p.a.
80%
Get a low interest rate loan with no ongoing fees. Plus you can make extra repayments and free redraw online.
Newcastle Permanent Building Society Premium Plus Package Home Loan - New Customer Offer Discount 1 ($150k+ Owner Occupier, P&I)
2.94%
3.34%
$0
$395 p.a.
95%
$2,000 refinance cashback
New borrowers or refinancers can get a discounted rate with this package loan. $2,000 cashback for eligible refinancers borrowing $250,000 or more.
Heritage Bank Discount Variable Home Loan - LVR ≤ 80% (Owner Occupier, P&I) New Customers Only
2.78%
2.80%
$600
$0 p.a.
80%
Family guarantee option available. Enjoy flexible repayments and a low minimum loan amount.
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Compare up to 4 providers

What about free online property valuations?

There are many property sites offering free online price estimates. To get one, all you need is a few details like the property address and your email address. These estimates can be very helpful when researching property prices but they are not a replacement for an in-person valuation by a professional valuer.

Sites that offer free valuations

  • Upside.com.au
  • OpenAgent
  • ANZ Property Profile Report
  • REALas (includes an algorithmic price prediction)

Why do you need a property valuation?

There are a few reasons why you may need a property valuation.

  1. Buying a home. If you are looking at purchasing a property then you may source an independent valuer to determine the value of the property. The report they provide you can give an insight into the good and bad aspects of the property and help you decide how much you should offer the sellers of the property.
  2. Selling a home. When you are selling your home it is important to understand what your property is worth. The value will help you determine the right listing price to attract potential buyers and help you to maximise your profits.
  3. Obtaining a loan. When you are trying to obtain or refinance a loan for a property your lender will organise a property valuation so they can determine the value of a loan.

What you should know about free valuations

When obtaining a loan a bank prefers to use their own valuer to ensure their strict guidelines are met. If you choose to obtain your own property valuation from an independent valuer then the bank can still choose to perform their own valuation.

More than one valuation

While many loans offer free valuations, this usually only covers the first valuation. If you need to get another valuation within the same loan for any reason, this often won't be covered.

Also, bear in mind that homes in regional areas might cost more to value as they may be more difficult for valuers to get to. In some cases, these homes may attract a valuation charge even if valuations are usually free to other borrowers.

Property valuation vs market appraisal

A property valuation is performed on behalf of the lender and will usually be below market value, because it is used to determine the minimum price the house could be sold for in order to protect the lender. A market appraisal is performed by a real estate agent who is acting on behalf of the vendor. The estate agent is using the same factors to determine value but is looking to get the highest possible price for a property.

Read More: Market valuation vs bank valuation

Related Posts

Home Loan Offers

Important Information*
Logo for Westpac Flexi First Option Home Loan - Basic Variable Rate (Owner Occupier, P&I)
Westpac Flexi First Option Home Loan - Basic Variable Rate (Owner Occupier, P&I)

Up to $3,000 refinance cashback. A flexible and competitive variable rate loan. Eligible borrowers refinancing $250,000 or more can get $2,000 cashback per property plus a bonus $1,000 for their first application. Other conditions apply.

Logo for St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)
St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)

Up to $4,000 refinance cashback. A competitive variable rate loan from St.George. Refinancers borrowing $250,000 or more can get up $4,000 cashback for their first application (Other terms, conditions and exclusions apply).

Logo for Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I
Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I

A competitive variable rate mortgage for owner occupiers $0 application and $0 ongoing fees. This interest rate falls over time as you pay off the loan.

Logo for UBank UHomeLoan Variable Rate - Discount Offer for Owner Occupiers, Variable P&I Rate
UBank UHomeLoan Variable Rate - Discount Offer for Owner Occupiers, Variable P&I Rate

Take advantage of a low-fee mortgage with a special interest rate of just 2.49% p.a. and a 2.49% p.a. comparison rate.

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8 Responses

  1. Default Gravatar
    lessaAugust 22, 2019

    Wondering how I’m able to get a bank valuation report on a property.

    • Avatarfinder Customer Care
      JeniAugust 22, 2019Staff

      Hi Lessa,

      Thank you for getting in touch with Finder.

      Kindly contact your chosen bank for your property valuation report needs. Some banks that offer free property valuation report are AMP, ANZ, Macquarie Bank, NAB, Suncorp, St. George and Westpac. You may also seek help from a mortgage broker on this matter.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

  2. Default Gravatar
    KymJuly 11, 2017

    Hi, we need an accurate valuation on a property that has no mortgage & have had two real estate agents come thru with wildly varying figures. We don’t know which one to believe and would prefer a precise and accurate value. Any suggestions?

    • Default Gravatar
      LiezlJuly 11, 2017

      Hi Kym,

      Thanks for reaching out.

      While we are unable to recommend a particular real estate agent, you may want to compare real estate agent proposals for free with Commingle on this page. Simply enter your details on the form and click “Enquire Now”.

      Meanwhile, you may want to go through our guide on how to select the right real estate agent on this page.

      I hope this has helped.

      Cheers,
      Liezl

  3. Default Gravatar
    MARTINMay 17, 2017

    I just want to get a valuation on a flat we own back in 1993. How do I get this information?

    • Avatarfinder Customer Care
      DeeMay 17, 2017Staff

      Hi Martin,

      Thanks for your question.

      You may want to get in touch with the Valuation Office in your state to get that information.

      Cheers,
      Anndy

  4. Default Gravatar
    CameronFebruary 27, 2014

    Hello. When a bank gets a valuation done as part of the loan process is the purchaser/customer entitled to receive a copy of the valuation report? I know the bank tells you the valuation is for bank internal purposes only but can they legally withhold this information. I am particularly interested because the customer might need a copy of the valuation for tax purposes when they want to sell an investment property.
    Cheers,
    Cam.

    • Avatarfinder Customer Care
      ShirleyFebruary 27, 2014Staff

      Hi Cameron,

      Thanks for your comment.

      This depends on the lender but they usually do provide you a copy of the valuation, you’ll just need to request a copy directly with them.

      Cheers,
      Shirley

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