Frustrating time with a "simple" remortgage

skinners14

Thank you. I live just outside Greater London and the Banks/Lenders do know the current value of properties and how much their prices have risen in each UK area.....after all they are always telling us that house prices have gone up by ex amount in whatever area. I know that previous posters have said they want to know the condition of the property etc....but if I just leave the mortgage to revert back to the Bank's "normal" rate they will not need a valuation, the mortgage will continue on the current bank rate? I'm sorry they are intent on charging fees no matter what, as I said before, where is the "treating customer's fairly" (in the new banking code of conduct) in this instance? As I said before it's a case of pay the valuation fee to get a cheaper rate irrespective of your credit history with the lender. Also, if I have to have a new valuation why do I have to use their valuers at £350+ and be able to shop around for a better rate? This all leaves a very bad taste.
Thank you for your advice and comments.

R_P_W

Pay 350 and save 5k.

Don't pay 350 and spend 5k.

The answer is pretty obvious!

gadjah543

I would also add that the price you could sell your house for might not been the same as the value that a surveyor might indicate the bank could get if the house was to be re-possessed.

You could end up in a worst case scenario of paying the valuation fee but still not getting the value you need.

hcb42

you need to pay, can't see what the problem is