Hello,
My partner and I bought a house for £200,000 and had a 20% deposit (£40,000). We have spent £35,000 refurbishing and modernising the house and it has been suggested to us by an estate agent friend that it would be possible to market the house for £249,999 if we decided to sell (the neighbouring property was recently valued at £260,000 so we feel that this is the right ball park).
We do not plan to sell, but our 2-year fix (@3.29%) ends in one year and we would like to get the house revalued for mortgage purposes (i.e. with a more favourable LTV we will be able to potentially cut 3 years off of our mortgage life and still be paying the same amount each month).
How do we go about getting this revaluation? Do we just wait until we are arranging a new mortgage deal and ask the mortgage company to send out somebody to value the property?
Many thanks :smiley:
My partner and I bought a house for £200,000 and had a 20% deposit (£40,000). We have spent £35,000 refurbishing and modernising the house and it has been suggested to us by an estate agent friend that it would be possible to market the house for £249,999 if we decided to sell (the neighbouring property was recently valued at £260,000 so we feel that this is the right ball park).
We do not plan to sell, but our 2-year fix (@3.29%) ends in one year and we would like to get the house revalued for mortgage purposes (i.e. with a more favourable LTV we will be able to potentially cut 3 years off of our mortgage life and still be paying the same amount each month).
How do we go about getting this revaluation? Do we just wait until we are arranging a new mortgage deal and ask the mortgage company to send out somebody to value the property?
Many thanks :smiley: