remortgage advice

jrs101

Hi,

I am thinking of remortgaing and need some advice on how this scenario works.

My LTV is high (so my present lender, alliance and leicester tells me using halifax price index)

If I apply to another lender and they offer a free valuation what if the mortgage application is then declined? My concern would be that there would be a credit search which may hinder me when approaching another lender?

Is it worth doing a valuation through A & L (they tell me its an independant valuation) or going elsewhere for one? I believe the value of the home is higher than they say and therefore believe i can get the LTV down to 75% and thus be entitled to better deals.

Many thanks for any help.

jrs101

Anybody able to advise ?

_Andy_

A credit search will only show you applied rather than the decision.

That said, if one valuer is saying it's X amount then you can almost guarantee the other one will as well.

With respect, almost everyone thinks their home is worth more than what a valuer says it is.

opinions4u

Try the Nationwide's calculator for a second opinion first.

That will give you a better feel for whether or not to pay for a physical valuation to be carried out.

Sites like Rightmove also have sale prices for every street in the country. Worth a look in there to see what houses really sold for (not what they were in the estate agent's window for).