Remortgage valuation

tomblair2404

Quick question, I am due to remortgage in the next couple of months so currently looking around for the best deal.

Having been to see our current provider they have valued the property at £315,000. I think this valuation is too high as another flat in the same block was on the market for £285,000 and was sold within a matter of days.

When it comes to the valuation am I better to get 2 estate agents round to value it or go with what the bank value it at based on the house price index? Then is it better to go with which ever is the higher or lower value?

Thanks

betmunch

You want the highest value when remortgaging. Get a few EAs round but make sure they understand that you need the price you should actually receive, not the price to market the property.
Then collate the info you have and use that valuation which will then be confirmed or denied by the lenders surveyor

mierzwin

If you feel Lender gave you higher than should valuation I wouldn't complain.

If you are not increasing lending then use this higher valuation as this probably will put you in better LTV so you get better deal.

EA valuations for mortgage doesn't mean anything and there is no point of involving them just for mortgage.