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House valuation on a re-mortgage.

ryan86uk
ryan86uk Posts: 173 Forumite
in Mortgages & endowments
Hi,

Although I have only just got my first house/mortgage and jumping the gun (by 4 years and 10months) how does house valuation work on a re-mortgage?

Say I want deal X that is for a LTV of <60% who does the valuation if at all?

thanks in advance.

Comments

  • shortchanged_2
    shortchanged_2 Posts: 5,546 Forumite
    Your valuation for a remortgage will usually be carried out by a surveyor on behalf of the bank.
    Why are we here?......................because we are not all there.
  • originalmiscellany
    originalmiscellany Posts: 1,655 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Mortgage-free Glee!
    And the surveyor gives a "realistic" price, which seems to often be lower than what you're expecting. Just to warn you.
    Feb 2012 - onwards MF achieved
    September 2016 - Back into clearing a mortgage - Was due to be paid off in 32 years in March 2047 -
    April 2018 down to 28.00 months vs 30.04 months at normal payment.
    Predicted mortgage clearing 03/2047 - now looking at 02/2045
    Aims: 1) To pay off mortgage within 20 years - 2037
  • ryan86uk
    ryan86uk Posts: 173 Forumite
    Many thanks for your replies. Appreciated.

    Regards

    Ryan
  • XBell
    XBell Posts: 28 Forumite
    I am also remortgaging. Rang my current lender and they did a quick computer generated valuation of my house. This then gave me a good idea of what I can ring up and ask other lenders about their products.
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