Value of house for remortgage

fairmorn308

Evening all

Few months time my 2 year fixed is up and looking to remortgage.

I bought the house for 300k but it was valued at 350k and the previous owners just kept dropping the price to get a sale.

Since buying the house I have made massive improvements inside and out but am not sure what it will be worth as I want to borrow for home improvements with the remortgage.

Is it possible to get a private home valuation before approaching banks to get a ballpark figure.

Rich

kingstreet

Yes, but there's no guarantee the two figures will match and the lender will take only its own surveyor's view into account.

Surveyors use the recent (last four months) sales of similar property in the vicinity (under 0.5 miles) from sites like this;-

https://www.rightmove.co.uk/house-prices.html/svr/3119;jsessionid=73A9305EF98A1B24289C08D69B97E7A0

to prepare the comparables they need for the valuation.

fairmorn308

Hi

That's the main issue is that it was a self build and nothing like it in the town

pjread

Well, unless it's a castle with 12 hectares of land, I suspect there's something like it (at least similar number of beds/receptions and same area so same facilities)

did the mortgage valuation when you bought come out at 350K?