valuations for product switch

Mrstickle

when you do a product switch with nationwide(or indeed any other provider) after coming to the end of a fixed deal, is the value based on purchase price, or current value at time of switch. I notice they have a house price index calculator on their website, do they use something similar to give a new LTV without having to pay for a new valuation?

we have only done cosmetic works to house which I assume wouldn't affect value, but am wondering if we will benefit from a lower LTV due to house prices rising.

Thanks in advance

kingstreet

Depends on lender.

Probably indexed valuation, with possible option of paying for inspection if you think that may get a higher figure.