End of fix

kriss_boy

Am I correct in assuming that when my fix comes to an end, I can have the property revalued to recalculate my loan to value?

We bought a fixer upper and have almost completed a total overhaul. two years ago we only had a 10% deposit/equity so the rate we got was terrible.

engineer_amy

if you go to a new lender, they will want a survey done to confirm LTV and at that point let you know which products are suitable.


Staying with the same lender, if you go with another fixed deal, they don't need to survey and will continue using the original value figures. Im sure you can request another survey if you think the impact of the renovations are significant, but you will have to pay for this, and possibly additional fees from the lender. your lender will be able to provide a breakdown of any costs required if you ask them

kingstreet

Your existing lender will probably use an indexed valuation, basing current value on house prices changes recorded using one of the accepted indeces.

You may be allowed to pay for a drive-by, or internal inspection if you aren't happy with the indexed valuation.

If you remortgage to a new lender, the likely loan to value will probably mean an internal inspection is required. This may be free as it is with many remortgage products.

superbigal36

I was on the wrong side of Ltv percentage when doing an online fix (Moving from standard rate) with Halifax.
I phoned them and disagreed with their computer valuation.
Asked for a revised revaluation figure (I gave them the figure I reckoned was the true value) of an extra £20000, to take me easily into another Ltv bracket.
1 week later came back approved without any apparent research !!!