We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
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?
0
Comments
-
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
-
do I have to give a reason why I want to release some money?0
-
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
-
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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards