We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Remortgage during renovation - effects on my LTV
Options
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
-
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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards