Remortgage and house valuation

Indiepie

Hello all,
I am new to the site though I have spent many hours reading through posts before today. But I find myself needing your advice.

Our fixed rate mortgage with alliance and leister finished in December, I have been in talks with my bank which is HSBC about switching to them and borrowing £5,000 for a new kitchen. We bought the house 3 years ago for £80,000 we took out a £60,000 mortgage on it and there's £56,000 left on it, this would take our borrowing amount to £61,000. Had a meeting today with the mortgage manager and the computer said we can afford it yay! Problem I'm having is the house valuation was put down as £85,000 having done some research tonight using the online valuation sites I just don't see it being valued at that on surveying. My question is if we get to the point of having a valuation done and they say its not worth £85k and they won't give us the mortgage would it affect our credit rating?
I'm wondering if we would be better remortgaging without borrowing extra and getting a separate loan or finance for a kitchen what do you think?
I have also rang my current mortgage company to see what they can offer, thought it was worth a try. Their calling me back tomorrow.

I hope I've give enough info, if you need anymore in order to help I'll be happy to give it. Thanks in advance.

Thrugelmir

No impact on your credit rating.

Could you wait a while longer i.e. make do, and either build more equity or save more.

Indiepie

Thanks for the reply. I know I should say yes but I really want a new kitchen. When I agree to buy this house I made it clear we had to put a new kitchen in, I've waited 3 years

I have just done a quote with Britannia after reading on here and their 5 year fix is coming out good based on the house being valued at £80k but not sure I've got the guts to actually apply online