Does remortgaing usually require revaluing??

nigglebyleaf

Hello all, does anyone know the answer to the folllowing. We are considering buying a house next to a takeaway (as I said in my previous thread) since trying to find a mortgage for the place we have discovered that such properties are not looked on favourably by lenders. At the moment the advice we have been given is the only people to try who might do it would be Natwest. Whether they'll accept it (and whether we decide to go ahead) aside can anyone tell me whether the following situation is possible / plausible or not...

So we decide to go ahead Natwest give us a mortgage and we move in we are on a 5 year deal and everything is fine.... We come to the end of our 5 year deal we want to get on Natwest next good deal.( we don't look to remortgage with another lender as we know its unlikely they'll have us). Natwest's lending criteria have changed over the past 5 years they now no longer wish to lend on properties next to takeaways so only allow us on the standard rate..

Could this happen or would they have to go by the valuation criteria they had originally used??

Thanks in advance

Thrugelmir

The lender will continue to offer you a product you qualify for from their range at the time. A change to lending policy will not impact you.