Remortgage/Valuation issue

cpu

I've just applied to remortgage with ING. Think that might have been my first mistake and the Woolwich might have been a better bet with their lifetime tracker. Done now so will just have to live with it and be prepared to remortgage again soon if ING's rates go up drastically.

I take it you can remortgage as soon as you like? Would a new mortgage company have an issue with a new application only a short while after remortgaging elsewhere?

I was told that ING would do an external valuation (probably by database somewhere) and this was confirmed after logging in to check on my application. I've just checked again and this has now changed to an internal valuation has been requested. Problem is, we're gutting the house and have pulled down the kitchen ceiling, ripped out the bannister, we don't even have a proper bathroom on the go at the moment although the toilet, bath and shower etc is functional.

We're waiting on drawings being done by local architect so we can submit application for building regs to knock out a wall, move door etc, so our house is a bit like a building site right now and will be for weeks (months?) to come yet.

When the house is valued, will they take into account the way it will be when the work is done, or the way it stands right now? We could be in trouble if it is valued in this state.

Jeannine

I don't thiink that you're legally obliged to continue with the application until you've signed the mortgage deed - so if you've doubts....I've just remortaged to ING and don't regret doing so -I like the no fees, no ties-ins, no restrictions on overpayments etc. And as for the valuation - I'm sure someone will advise!