You have no items in your shopping cart.
ABSTRACT
This study was designed to access mortgage valuation as a lending requirement by financial institution in Benin City. The methodology adopted in the study was the survey method with the instrument of questionnaire. A sample size of 55 was determined for Estate Surveyor and valuers and 17 was determined for financial institutions. A total of 55 questionnaire was distributed to the 55 Estate Surveyor and valuer and 37 Estate we retrieved while 17 questionnaire was distributed to 17 financial institution and the was responded to and analyzed. The study used weighted mean score, simple percentage, and one sample t-test with the aid of statistical package for social sciences to analyze the data. The key finding from the statistical analysis revealed that most respondent firm in the study area use the contractors method in carry out mortgage valuation. It also revealed that valuers are faced with several difficulties such as changes in lending standards and appraisal requirement, market volatility, accuracy of available data e.t.c. It can also be seen that banks often adopt the valuation figures from Estate Surveying firm in loan approval and several factors which includes nature of the property, location e.t.c. Influences the adoption of mortgage valuation figures.
