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Remortgage during renovation - effects on my LTV
mark_ashley
Posts: 31 Forumite
Morning all,
my current mortgage has run its course and is finishing very soon so I will have to remortgage to get a new deal.
I am however coming to the end of a renovation which could possibly see my LTV dropping from its current 75%, down to 50-60%. The issue is, building control will not be able to sign the completion certificate before my current offer expires.
Does anyone know if it would be possible to get a house valued during an offer term, thus have the interest rate adjusted depending on LTV?
If not then I would assume my best option would be to stick out the base rate for a couple of months until the valuation is complete?
Any ideas welcome,
Thanks,
Mark.
my current mortgage has run its course and is finishing very soon so I will have to remortgage to get a new deal.
I am however coming to the end of a renovation which could possibly see my LTV dropping from its current 75%, down to 50-60%. The issue is, building control will not be able to sign the completion certificate before my current offer expires.
Does anyone know if it would be possible to get a house valued during an offer term, thus have the interest rate adjusted depending on LTV?
If not then I would assume my best option would be to stick out the base rate for a couple of months until the valuation is complete?
Any ideas welcome,
Thanks,
Mark.
0
Comments
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The valuer will base their opinion on the condition of the property at the time. The lack of a completion certificate shouldn't hinder matters.
How much "renovation" work is yet to be completed?0
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