Remortgage time, but seem to be very short on options...

BillVTS

Hi all, firstly thanks for reading!

3 Years ago I purchased my first house, a dirty repossession needing alot of work, I paid £77,000, my mortgage amount was £75000 and I had to have interest only and so that is the outstanding balance.

I'm at the end of my term in 3 months time and I need to sort out what to do next, I would love to move onto capital + interest. I've had a hefty pay increase since I got the mortgage and I now earn around £22000 per year before tax, excluding any overtime.

Obviously the credit crunch has had a big effect because entering these figures into any online tools produces no results, it was easy last time even though I was only earning around £16000 a year!

In the past three years the house has had a major overhaul, replastered, new kitchen and bathroom etc, not one inch left untouched and has been finished to a very high standard. Similar houses in the area have sold for at least £100000 recently.

What I don't understand when filling in application forms, is the value box, do I enter what I paid, or is it best to get a proper valuation done and enter that figure?

ANY advice would be greatly appreciated!

Thanks in Advance