Hi there,
I've been reading some previous threads concerning revaluing your house on remortgage to get a better LTV. I have say I find the whole mortgage thing very confusing and daunting so would appreciate any advice on my scenario.
Essentially my 3 year fixed mortgage ends shortly and we have an approx 18% LTV on a £160,000 bought house. We currently pay approx £760 a month on a 5.84% interest rate. We have been offered 3.99% which means £610 a month which is a pretty hefty saving a month.
Basically I am wondering if its worth getting a revaluation to ge a better LTV. There is a house up our road up for £210,000 and whilst it may not sell for that it leads me to believe ours is worth quite a bit more than when bought. We bought at a good time, got a deal, and have taken a garage away and put in a garden which certainly has added value.
On reading previous messages it seems conflicting whether its worth getting a revaluation and might even backfire or whether I should got what we are offered. On basic tests online we can get a far better rate of interest if we have a better LTV.
Any advice to the above would help and I apologise for any misworded terminolgy above!
Rich
I've been reading some previous threads concerning revaluing your house on remortgage to get a better LTV. I have say I find the whole mortgage thing very confusing and daunting so would appreciate any advice on my scenario.
Essentially my 3 year fixed mortgage ends shortly and we have an approx 18% LTV on a £160,000 bought house. We currently pay approx £760 a month on a 5.84% interest rate. We have been offered 3.99% which means £610 a month which is a pretty hefty saving a month.
Basically I am wondering if its worth getting a revaluation to ge a better LTV. There is a house up our road up for £210,000 and whilst it may not sell for that it leads me to believe ours is worth quite a bit more than when bought. We bought at a good time, got a deal, and have taken a garage away and put in a garden which certainly has added value.
On reading previous messages it seems conflicting whether its worth getting a revaluation and might even backfire or whether I should got what we are offered. On basic tests online we can get a far better rate of interest if we have a better LTV.
Any advice to the above would help and I apologise for any misworded terminolgy above!
Rich