The Bank of Spain has finally proposed that valuers are independent from Banks and separate from the lending institution.  This has been a long time in the coming and considered a contributing element in creating the property bubble. It is common that Spanish banks own a percentage of the valuation company carrying out their appraisals.

In a report issued to the banks and their valuers, they also suggest, very sensibly, that

loans should not be over 80%

that banks use more than one valuation company

They should view any previous valuation before making a lending decision

The banks also states it doesn’t not believe in massive, desktop valuations and that the valuer should always visit the property, including an internal inspection.