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new mortgage deal question
deadlyleadly
Posts: 10 Forumite
hi
i am nearing the end of my 5 year deal and i was just wondering what happens next in relation to being offered a new deal, will my existing provider offer me a new deal? if they do do they undertake a new valuation as my LTV may have improved if the value has increased?
i am nearing the end of my 5 year deal and i was just wondering what happens next in relation to being offered a new deal, will my existing provider offer me a new deal? if they do do they undertake a new valuation as my LTV may have improved if the value has increased?
0
Comments
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That depends on the lenderI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0 -
By default you'll move onto the lender's SVR or the follow rate as was specified in the product details.
Onus is on you to contact the lender. To see what's available to you.0 -
thanks, so assuming i contact the lender will they offer me a deal based on my properties last valuation or will they require a new valuation?0
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The lender may well use an index to guess estimate the value. If you consider this wildly inaccurate then paying a valuation fee is also an option.0
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