Remortgage survey question

Sharra

We're remortgaging at the moment. With the house price drops, we're not sure when they value our house what it will be worth, and as we're trying to get a 75% ltv mortgage, we need it to be valued well.
(we're not talking over the top value, local houses seem to be going for about what we think its worth, we're just concerned in case it comes in maybe 5k under).

Is it worth us doing a little bit of tarting up? For example, there's some holes in my son's wall where his curtain rail fell down, is it worth the effort of filling and repainting the wall? Our bathroom has a combination of 2 types of tiles, and wood panelling, would it be worth us starting to strip some of them off so that we're in the process of redecorating when they value?

Thanks for any thoughts on this
Sharra
x

dwsjarcmcd

Yes if only bacause your presumibly going to have to do these things anyway!
From a surveyor's perspective, I doubt it would make any difference to the valuation but it can't do any harm

David

opinions4u

Sharra wrote: »

local houses seem to be going for about what we think its worth, we're just concerned in case it comes in maybe 5k under).

If they're going on the market for what you think it's worth, it's worth less.

If they're actually selling for that, there's hope.

Is it worth us doing a little bit of tarting up? For example, there's some holes in my son's wall where his curtain rail fell down, is it worth the effort of filling and repainting the wall? Our bathroom has a combination of 2 types of tiles, and wood panelling, would it be worth us starting to strip some of them off so that we're in the process of redecorating when they value?

As long as there's nothing structurally poor, it won't make the slightest bit of difference.

If you are looking to sell the house, I'd say do it.

If you're staying in the house, I'd say do it in your own time.

brightbuy

Each surveyor will be different, some are very harsh and some are reasonable. Make a list of everything you have done to improve your property since it was purchased.

I recently had a remortgage customer with two different surveyors, the first one she just stood there and said nothing, £270,000 valuation. The second time she talked to the surveyor about the work she had done, £300,000 valuation.

Now in her case admittedly it was thousands of pounds worth of improvements, but if you don’t speak to them, don't expect them to give you the figure you think it's worth.

Failing that your broker should be arming himself with comparables as we speak and should have the relationship to speak with the surveyor if he/she feels they are being harsh.

koexelek

brightbuy wrote: »

Each surveyor will be different, some are very harsh and some are reasonable.

Very true. If they spent the whole journey to our property stuck behind tractors and lorries........expect the worst :rolleyes: