We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Remortgaging with the Halifax

the_mitchells
Posts: 10 Forumite
Hi im not sure if anyone can offer any advice on my first time on this forum...
We have mortgage with Halifax which weve had since sept 07 ive had a couple of conversations with them recently asking if we can add £2-3,000 onto our mortgage but they turned us down due to what they value our property at . They are saying our house is valued at £111,000 as our mortgage is only slightly less than that they couldnt offer us any more ive explained to them that there are houses selling in the area similar to our house for £150-£160,000 but they have advised me if im not happy with the valuation i could pay them £110 & they would come & officially value it. They also told me to note that the value isnt done on the house or street but on area im slightly annoyed by there arrogance as they valued it at £140,000 less than 2 years ago i have since asked for payment holiday for 2 months but got refused on same grounds any advice or am i going to have pay the Halifax the £110?
Thank you for any advice given
We have mortgage with Halifax which weve had since sept 07 ive had a couple of conversations with them recently asking if we can add £2-3,000 onto our mortgage but they turned us down due to what they value our property at . They are saying our house is valued at £111,000 as our mortgage is only slightly less than that they couldnt offer us any more ive explained to them that there are houses selling in the area similar to our house for £150-£160,000 but they have advised me if im not happy with the valuation i could pay them £110 & they would come & officially value it. They also told me to note that the value isnt done on the house or street but on area im slightly annoyed by there arrogance as they valued it at £140,000 less than 2 years ago i have since asked for payment holiday for 2 months but got refused on same grounds any advice or am i going to have pay the Halifax the £110?
Thank you for any advice given
0
Comments
-
You will need to pay them the £110.0
-
the_mitchells wrote: »ive explained to them that there are houses selling in the area similar to our house for £150-£160,000but they have advised me if im not happy with the valuation i could pay them £110 & they would come & officially value it.They also told me to note that the value isnt done on the house or street but on areaim slightly annoyed by there arrogance as they valued it at £140,000 less than 2 years agoi have since asked for payment holiday for 2 months but got refused on same grounds any advice or am i going to have pay the Halifax the £110?
The fact lenders use an indexing system actually reduces the number of valuations that customers have to pay for. In the past, all lending over and above 75% of the previous value required a new valuation to be paid for. Nearly always at the customers' expense.
Out of interest, if you need a payment holiday now can you really afford to borrow an extra £2k to £3k?0 -
The bottom line is that a house is only ever worth what a lender is prepared to lend on it?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 348.2K Banking & Borrowing
- 252.1K Reduce Debt & Boost Income
- 452.4K Spending & Discounts
- 240.8K Work, Benefits & Business
- 617.1K Mortgages, Homes & Bills
- 175.6K Life & Family
- 254K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards