Getting a new rate with existing lender

iandv

Hi

My current fixed rate runs out in December and I think you can secure a new fixed rate from September onwards.

I want to stay with the same lender just want to secure another 5 year fixed rate.

The question I have is since we purchased the property which was bought below market value because it needed modernisation etc we feel that the money spent on the property has increased the value of the home.

When we bought the house at around 28% LTV but feel our equity is now around 35%

What do you need to do contact an estate agent to carry out a valuation which you send to our lender to show the house has now increased in value because of the works carried out?

opinions4u

Talk to your lender to see what they have to offer.

Talk to a broker to see what the wider market has to offer - don't assume your lender will give you the best deal.

Don't talk to any estate agents - the lender will determine the value using an indexing sytem or a valuation.

Don't assume your improvements have added to the value as much as you think.

Good luck!