Remortgages

Robsta86

Hi,

A year and a half ago I got my first mortgage with 10% deposit (2 year fixed). I am thinking about remortgaging when the fixed rate ends and I noticed from Zoopla that the value of my house has actually increased from when I bought it. I know that there will be a valuer if I were to remortgage but I think Zoopla is a good guide.

Therefore assuming that the valuer agrees with Zoopla will I effectively have equity of say 17/18% (increased in value and small amounts paid off in the two years) from the original 10% when I purchased the house, and this would mean that the LTV will be 82/83% so I will be able to obtain better mortgages then before?

Thanks

Let_Us_See

Robsta86 wrote: »

but I think Zoopla is a good guide.

Then you are in a minority of one!

However, to answer you question that if your property is revalued higher then you might be able to achieve a lower LTV bracket and in theory a corresponding lower rate of interest.

amnblog

if your valuer agreed with Zoopla the lender wouldn't bother to pay the valuer. They would just get a 12 year old to log on to Zoopla with their ipod innit.

Robsta86

The value was above Zoopla and they didn't even bother coming round to value it! Boom!