Remortgaging advice

Engeroosi

Received a phone call regarding application and the computer never said no, so application has been sent out for our signatures and we need to send in documents. Hoping this is good news that we got past the computer check stage. Also they cant do a desktop valuation on the house so require to visit the property. Thinking i better make sure the place looks good!! Or do valuers not really look at the presentation the same as a potential purchaser?

Thrugelmir

Engeroosi wrote: »

Or do valuers not really look at the presentation the same as a potential purchaser?

Have you time to give everywhere a coat of paint ?

The valuer knows its a remortgage so don't be overly concerned.

Engeroosi

You had me worried there!!! will make sure the place has had a clean and tidy. Surely that should do the trick. I think there is some cushion with the valuation, I reckon its worth ~165k but can be as low as 155k to meet the LTV required.

Engeroosi

Still waiting on the underwriters decision. I have convinced myself my application will be rejected as we have other mortgages and they don't take into consideration the rent we receive as it isn't guaranteed which is annoying. We have had the same tenants in both properties for 2 years! And no sign of them wanting to move.

Never mind, no loss if its rejected as making great progress on reducing the mortgage at current high interest rate. If it is rejected I have decided to use the money I would of paid on the ERC to make a large overpayment on the 1st November.

Engeroosi

Got accepted for the mortgage with HSBC, looking forward to paying less interest from November onwards and really tackle the mortgage, already reducing the term from 22 years to 15 years from November. That is 7 years mortgage payments saved!!