Bank value

The bank value is what the bank believes a property is worth and at what price it could undoubtedly resell it anytime. To calculate the bank value, the bank first determines the market value — i.e., the current market price, from which it deducts a number of risk discounts to arrive at the so-called mortgage lending value. However, the deductions vary from bank to bank, so the bank value may differ as well.

Since the bank value is often determined by software, there's always a risk that the stored data is outdated. It makes sense to have someone run the numbers with you just in case.

Our financial experts have an eye on this, of course. So feel free to ask them if you would like to know more: financing@urbyo.com.