Current deal running out - Need some advice

NeedAdvice10

Hi,

We signed up to a 2 year fixed rate deal which is due to expire in December.

Wanting to avoid the banks SVR which is almost 2% higher than what we are paying at the moment I would like to fix for another 2 years.

Our property value has gone up a lot since we bought the house in 2010.

We bought in 2010 for £200k and our mortgage is around £158k..

The house next door has recently sold for £279k and the house next to that sold for £315k..

An estate agent has been out and said that if we sold today he would expect to put it on the market for £315k

So my 1st question is this:

1. When I spoke to the mortgage company they said they had the value of our house down as £212k. This is obviously A LOT lower than what houses in our area are selling for and has an affect on the LTV and rates the bank will offer.

As the value has gone up, can I get the bank to revalue it?

2. My partner has recently left her job. We have savings and so I can support the mortgage and bills until they find a new job/income. What impact will this have on the mortgage? If we owe £158k and the house is worth over £300k we have more than 50% equity. Will the bank let us renew or will we have to go onto STV?

Thanks in advance

kingstreet

You may be able to pay for a valuation.

Change of circumstances may make a difference, may not.

All depends on which lender it is and their policy.

getmore4less

Check your cuurent lenders default on-line no checks offerings then look for something better.

Don't forget to factor in all the fees over the 2 year(if thats what you fix for)