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Will the bank send a valuer to the place I'm buying, or just do an online report?
Bayley Clarke · Mortgage broker on the road · Last checked 11 November 2026 · 3 min read
The short answer
Generally it depends on what percentage of the price you're borrowing. If you're borrowing above 80% and paying lenders mortgage insurance, the bank usually sends a valuer out. If you're borrowing under 80%, most of the time it's an online report.
If you're buying under the government's 5% deposit scheme, it varies. Some banks want to send out a valuer and others are happy with an online report. And a really rural property or a big block of land will generally get someone out regardless.
The 60 second version, filmed from the driver's seat. The rest of this page is the detail underneath it.
Borrowing over 80% with mortgage insurance
When you're borrowing above 80% and mortgage insurance is payable, a lot of the time the bank wants that second layer of assurance. So an independent valuer comes out on their behalf to walk through the property and make sure what you're paying is roughly what it's worth.
The reason is risk. With a smaller deposit, there's less of a cushion if the property ever had to be sold, so both the bank and the mortgage insurer want a proper look. It's not absolute, and some deals with mortgage insurance still run on a desktop valuation, but a physical inspection is the most common outcome at this end.
Borrowing under 80%
If you're borrowing less than 80%, most of the time the bank will just do an online report. That's a desktop or automated valuation built from recent sales and property data, with nobody walking through the door. It makes things a lot quicker and easier, and it often comes back within a day or two.
The exceptions are properties that don't fit the data neatly. A really rural or regional property, a home on a large block or acreage, or anything unusual about the build, and the banks will generally want to send someone out. The data just isn't there to value those from a desk with confidence.
What the valuation is actually checking
Property is one of those things that's worth what someone is willing to pay for it. The valuer's job is to check the bank isn't lending against a price that's out of line with similar recent sales. Most of the time the valuation lands at or around the contract price, and that's the end of it.
But valuations can come in under what you've agreed to pay, especially in a market that's moving fast or on a property that's hard to compare. If that happens, the bank lends on the lower figure, and the difference has to come from somewhere, usually your deposit. That's worth knowing before you sign, and it's why getting the valuation ordered early matters.
The honest bit: you don't get to choose the valuation type
The bank decides whether it's a desktop report or a full inspection, based on its own rules and the mortgage insurer's. I can't request an online report to save time if the bank wants a valuer out.
What I can do is pick lenders that suit your property, get the valuation underway early, and sometimes compare what a couple of lenders come back with before we commit.
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Do I pay for the bank valuation?Typically no, the bank wears it because you're about to be their customer.
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The full guide: How to buy your first home The full guide: Bank valuations, explained Bank valuation or agent appraisal: which one counts? The bank valued it lower than what I paid. What happens? Can the guarantor's property use an online report as a valuation, or does it need an inspection? Can my broker get valuations from a few different banks so we can just pick the highest one?Not your question? Book a call and ask it, or call 0437 189 939.