Hi,
We are looking to remortgage because our current deal comes to an end very soon. 2 years ago we bought our property for what i considered to be good value because previous owners wanted a quick sale and we moved quickly.
Now we want to remortgage I want to use our property value to our advantage for the best rate (taking into account LTV). Who decides what our property is worth in today's market? Furthermore our property is very unique - there isn't another one like in the area to make a like for like comparison.
Whats to stop me applying for a remortgage on the basis that I think my property is worth £X despite only paying £Y. In this case would the lender come and and have a look and decide for themselves (no problem with that). Could I loose my arrangement fee if I get it wrong?
thanks all.
We are looking to remortgage because our current deal comes to an end very soon. 2 years ago we bought our property for what i considered to be good value because previous owners wanted a quick sale and we moved quickly.
Now we want to remortgage I want to use our property value to our advantage for the best rate (taking into account LTV). Who decides what our property is worth in today's market? Furthermore our property is very unique - there isn't another one like in the area to make a like for like comparison.
Whats to stop me applying for a remortgage on the basis that I think my property is worth £X despite only paying £Y. In this case would the lender come and and have a look and decide for themselves (no problem with that). Could I loose my arrangement fee if I get it wrong?
thanks all.