We are desperately trying to get off our current NRAM mortgage, and Santander have got a 2 year fixed deal that they are willing to offer us but the interest rate we qualify for depends entirely on the LTV ratio.
Santander have quoted us for a great deal assuming our house is worth £220k, as this valuation just brings us into the 80% LTV bracket. However, if it's worth less than £220k, we'll qualify for the higher 85% LTV interest rate which means repayments will be £75 per month more.
We have a valuer coming this week, and I'm wondering what the likelihood is that we'll get the valuation we need. Our house is in the middle of being cosmetically decorated and needs a new kitchen, but has new doors, windows, wood floors, built in wardrobes, fitted blinds etc - I'm not sure what things the valuer will be looking at? We both thought the £220k was a little on the high side. Any advice about valuers/ what they look for so we can manage our expectations?
Santander have quoted us for a great deal assuming our house is worth £220k, as this valuation just brings us into the 80% LTV bracket. However, if it's worth less than £220k, we'll qualify for the higher 85% LTV interest rate which means repayments will be £75 per month more.
We have a valuer coming this week, and I'm wondering what the likelihood is that we'll get the valuation we need. Our house is in the middle of being cosmetically decorated and needs a new kitchen, but has new doors, windows, wood floors, built in wardrobes, fitted blinds etc - I'm not sure what things the valuer will be looking at? We both thought the £220k was a little on the high side. Any advice about valuers/ what they look for so we can manage our expectations?