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Remortaging soon
babysteps24
Posts: 256 Forumite
I can remortgage soon, will be borrowing a bit more, how do i know house value so i can work out ltv?
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Comments
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The lender will value the property.
The purpose of releasing equity whilst remortgaging will be questioned.0 -
Have a look on property portals like rightmove. Steer away from the for sale prices and have a look at sold prices for similar properties in your area. These are what the lenders surveyor will use to assess the value of the property.0
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do I have to give a reason why I want to release some money?0
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Yes, the lender will ask what the additional funds are for. They don't tend to like people using the money for certain things like injecting money into a business, tax bills etc0
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babysteps24 wrote: »do I have to give a reason why I want to release some money?
Always, otherwise it might be for a non legal purpose or against the lenders policy.
If you state the purpose is 'home improvments' lenders sometimes check they are carried out / request invoices.0
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