Mortgage Valuation Question

Tra77

We're in the process of applying for a btl mortgage and we need to pay for their valuation on our current property (which we intend to move from and let out)

The property at present has no boiler/central heating system, only a high output gas fire and baxi wall heater in kitchen/diner. With an emersion heater and timer for hot water.

How much would installing complete new gas central heating system & boiler add to the valuation on my property.

We are in the process of looking into installing the central heating before we let the property out but I'm impatient and wanting to get moving on the valuation fairly quickly.

roonaldo

having had central heating installed in my house, I would only say that it would increase the value of the property by how much it costs to install. so perhaps £3k to £5k.

the key thing is that it will make it more attractive and saleable in the future.

Cannon_Fodder

Pretty much nothing, imo.

A remortgage valuation will not care the same as a potential house-buyer might.

But the saving to you, in reduced 'Landlordly' hassle/improved reliability/tenant's silence, has to be worth it.

Sammy85_2

I wouldnt think it would anything to a banks valuation.

But it will help its rentability. I certainly wouldnt want to rent somewhere where i had to huddle infront of the fire for warmth or put on the immersion heater before i could have a bath. A house like that would be the last on my list.

A new boiler would probably cost you around £2k, but if you need the full system it could be anything upto £4k. A worthwhile investment!

Tra77

Thanks for your replies!

The house will have the central heating system in place by the time I come to rent it out. . . I just didn't want this to de-value my house greatly for the remortgage valuation, which I don't want holding up for weeks due to the fitting of the central heating.