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85% LTV - What to do for the future?

My house is worth in the region of 150 - 175k (not sure as few sell down my road and I have no idea how a lender will value my home).

Currently I owe about 135k.
My mortgage right now is great, I am on the Nationwide SVR.

The problem.

I am thinking of going starting a business of my own (currently employed), this I know may make a mortgage application at a later date 'iffy'.

So I am considering a Fixed for 5yrs to cover myself.
I can probably find the cash to get 85% (if the valuation is top end I could go 75%).

But I am reluctant to pay all these bloody fees without a Clue what my home is worth (or what the banks will say it is).


Does anyone have any ideas for me? :confused:

Comments

  • luckyfool
    luckyfool Posts: 1,683 Forumite
    Who is your lender at the moment?
  • kstone
    kstone Posts: 11 Forumite
    Nationwide - just sitting on standard variable
  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    You could ask them if they have an indexed valuation

    Alternatively you could apply for a deal offering a free valuation - if it comes in lower than expected you then have time to think about what to do next without having paid any fees upfront
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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