Remortgage valuation HELP!

user1168934

Ask a local estate agent for valuation - free. Tell them you are thinking about selling. Ignore Zoopla and asking prices altogether.

AshleighC

Having a local estate agents value... hopefully this is a better result, this would only provide back up to a mortgage lender as they would surely want to send there 'trusted surveyor' ... does that sound correct?

70sthrowback

what the estate agents value your house at is irrelevant for the mortgage. it may give you an indication if the surveyor is way too low, but even if thats the case the lender will not take an estate agents valuation. If there are house up for sale, what are they actually selling for, rather than the for sale price? Also are these brand new houses, or newly new houses like yours?

JimmyTheWig

AshleighC wrote: »

House price is based on what they are currently selling for
...
We bought house at a discount

Presumably other people are able to buy theirs at a discount, too?
Do you know what the houses are actually selling for, rather than what price they are advertised for?

as mine is a new build although 2yrs old now. In great condition as no kids/pets.

If you bought a new car and looked after it for two years, do you think you could sell it for the same price you bought it for?

Or look at it another way...
If you were going to move to a different estate and you had the choice of two houses - one brand new and one lived in for two years - which would you rather buy?

Kynthia

A buyer is more likely to buy one of the new builds than your 2 year old house with wear and tear. You have lost the premium for being new and your house is worth less than the same house new. Plus the price you paid, as well as including a new premium, did it include any extras such as white goods which buyers don't expect to pay in a second - hand home?

kingstreet

We look after a site in Milton Keynes where the second-hand property (newbuilds from 2013 - 2015) is selling for the same price as the current newbuilds.

There was never a newbuild premium, or if there was, it disappeared within a few months of completion.

I don't know about elsewhere though.

dimbo61

Not sure why the valuation is that important ?
You put down a deposit what 2 years ago and have made 24+ mortgage payments.
Rates have NEVER been this low so can you not remortgage onto a better deal and maybe consider a 5 year fix or Offset fixed !

Thrugelmir

AshleighC wrote: »

We bought house at a discount and this is what the house valuation has come back at.

Discount to what? An inflated selling price that was adjusted to take account of the local market at the time.