Remortgage Valuation During Building Works

Hi all, apologies if this has been asked before - I can't seem to find an answer.

I'm currently carrying out extensive DIY work at my house - the living room, hall and landing have been gutted and I'm in the process of replacing the wall coverings, ceilings etc. The kitchen and bathroom have been recently renovated.

I've had an agreement in principle for a remortgage with Nationwide which would cut 6 years off my existing deal for roughly the same monthly repayments, but I'm a bit worried about the current state of my property if an on-site valuation is to be carried out. I've lived at the property for nearly 4 years and paid £68000 for it (It's cheap as its in Wales!) I currently have 16% equity based on what I paid for it. I don't think prices have really moved in my area since it was purchased.

I suppose my question is, do Nationwide usually carry out on-site or drive-by or desktop valuations? and also if they do on-site valuations, is the fact I have a lot of unfinished building work likely to affect the valuation? Thanks.


  • Wh05apkWh05apk Forumite
    2.9K Posts
    Part of the Furniture 1,000 Posts Combo Breaker
    Depends on LTV and how tight you are to their desktop valuation.

    If the unfinished work is basically cosmetic, it will have little impact, provided the property is habitable, valuers generally are not swayed by cosmetics.
    I am a mortgage adviser.
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Thanks, the work's a bit more than just cosmetic. I suppose the right thing to do would be to try and finish the bigger jobs before the valuation s done - I have 90 days as long as interest rates don't go up too drastically!
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