The phrase ‘subject to valuer’s comments’ is well-known among experienced landlords and even homeowners. It’s a default clause used by both lenders and brokers to protect against the risk of a down valuation that might render a property deal unviable.
This “get out of jail free card,” while understandable in theory, can be frustrating in practice, especially when underwriting is complete, fees are paid, and time is lost, only for a valuer to deliver an unexpected blow.
So, what does the phrase really mean? And how can buyers and investors best manage this potential pitfall?
What Does ‘Subject to Valuer’s Comments’ Mean?
It essentially allows lenders to reserve final judgment on a deal until a valuer inspects the property. If the valuer raises concerns—be it location, condition, or market comparisons—the lender can withdraw, reduce the loan amount, or change terms.
Managing the Risk (Not Eliminating It)
Let’s be clear—there’s no silver bullet to avoid this scenario. But smart preparation and experienced brokerage advice can go a long way in mitigating the risk.
A good broker will:
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Identify red flags early (e.g. proximity to commercial units)
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Recommend avoiding properties that are consistently capped at 60-65% LTV
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Be honest if a deal isn’t worth pursuing at all
Case in Point: Flats Above Shops
This is a classic example: a flat above a takeaway, salon, or convenience store. Some lenders won’t touch it. Others may proceed—but only under specific conditions.
That’s where market knowledge and broker relationships come in. We know:
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Which lenders currently accept such properties
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Which have recently changed policy
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And which to avoid entirely
Real-World Example
One recent client had everything in order: good credit, solid rental history, and a tidy property. But a single valuer comment—“due to the commercial unit below, this flat may be less desirable”—was enough to stop the deal.
The lender saw it as the least desirable unit in the block and declined the mortgage. Despite everything else lining up.
Final Thoughts
‘Subject to valuer’s comments’ isn’t something you can eliminate, but it’s something you can prepare for and manage.
At The Wright Mortgage Broker, we guide our clients with full transparency. Our job is to make sure you’re not just hopeful, but fully informed about all risks, lender preferences, and potential valuation pitfalls before moving forward.
As any experienced landlord would know and perhaps those who have purchased their own home also, the phrase ‘all agreeable, subject to the valuers comments’, is something that gets highlighted almost all of the time. As above, unfortunately it can also be used a lot by both lenders and brokers alike to protect themselves from the possible outcome of a valuer down valuing and property making a transaction unviable or even not giving a value at all. Certainly not a scenario I look to avoid with my clients where possible.
So what is it and crucially how best to manage the frustrating scenario of having your case underwritten, paid the lender fees and valuation fees, only for a valuer knock-back a property, losing your funds and perhaps a few week in the process.
The clue here is the word ‘manage’. I’ve purposely picked this as there is no avoiding this or indeed no magic formula that makes this phrase redundant. However there are absolutely best practices which can ensure my clients go into any deal with their eyes open and are looked after, both now and in the longer term.
Certain this is where a good broker will discuss these options with you and, if their doing their job properly, may even put forward the motion of not proceeding at all. Taking the view that longer term it could be deemed that this particular property is always going to be difficult to obtain finance on perhaps always be capped at 60% to 65% LTV – Which if this works by all means something to progress with!
So if we take the usual example that props up, this being a property in and around commercial units, perhaps a flat above a shop or a house next to a newsagents. However the list is certainly not exhaustive.
My first point here is that with any property, there never is any guarantee that a valuer will come back with the numbers expected, it really is down the valuers opinion on the day. Hence the phrase ‘manage’.
However there are steps that can be taken, and certainly should be taken so you can go into a transaction knowing any potential issues. What should be happening here is a broker can use their knowledge of the market to understand which lenders may be able to look at this and which lenders it will always certainly come back as a no. From there, a broker should be utilising their connections and own recent experience to be able to know which lenders are currently more favourable to properties in and around commercial units. This does change; just because a lender was more favourable 6 months ago, it doesn’t mean they would be now, especially if they feel they have over-exposed themselves to a particular type of property.
From here I would look to make my recommendations, typically here my recommended lender but also an overall view and we would likely have future options or if this a limited market.
I’ve had a recent one where the property valued up, everything came back with positive feedback baring one comment which read ‘owing to the vicinity of the commercial unit below, this flat may be deemed as less desirable that others within the block’. Because of that the lender took the view that they wouldn’t lend, based on having what they saw as the ‘least desirable property.’
So as I started with, no magic formula but hopefully an insight into what myself and at The Wright Mortgage Broker will be doing on your behalf so that when we proceed, we have all relevant information available to ensure that you are aware of how we are proceeding.
