Remortgaging valuation, windows not included?

mrskaura

My husband called nationwide yesterday to ask about rates and get advice as our mortgage deal is coming to an end. His sister has just remortgaged and got a better deal after doing a new valuation of her house as she has had a new kitchen. Since moving into our house we have had brand-new upvc double glazing and he asked if that would improve the value of our house but was told by the advisor that windows don't count. We both found this a bit odd and were wondeeig if anyone else had encountered this when remortgaging as we though windows added to the value of your home.

thanks

kingstreet

Windows don't add value.

New kitchens, bathrooms, windows etc often improve saleability, but don't add much to the value of a property.

Improvements which add space tend to be the ones which add value.

When did your Nationwide mortgage start? If it was before 30 April 2009, you will roll onto the BMR of 2.5%. Do not give this up without a great deal of thought.

Crashandburn

Will all be done to valuers comments but windows would add value in my opinion if they were replacing old less efficient ones. In saying that, it may only add 50p for every £1 spent.

kingstreet

Sorry.

Just re-read. Are you looking to remortgage or are you asking your current lender, Nationwide, about its customer retention products?

If looking to remortgage, the new lender will have a surveyor inspect the property to establish the value. He will base his figures on the recent sales of comparable properties in the area.

Your existing lender, when offering a retention product may simply use a desktop indexed valuation system which will not take into account any improvements you have made.