Valuation when remortgaging with same lender

debtfreeian

Hi, I want to move to a new deal with my current lender.

How do they value the property? Survey or something else?

This is Halifax BTW.

Keezing

You might get lucky and they'll just use an index, which will be free. If you disagree with the index valuation, you can normally pay for a formal valuation. However this is risky as it could come back lower than the index.

Switching deal with your existing lender is not a remortgage, it's a renewal.

kevc1985

I called 2 estate agents and had my house valued, then spoke to First Direct who I have my mortgage with and they done a desktop valuation which pushed me just under the 60% LTV using the estate agents figures..... no hassle for me at all.

debtfreeian

Exactly what I'm trying to do kevc1985. I'm on the edge of 60% I'd say.

kevc1985

It can make a huge difference to your payments.... cut my monthly payment by £87, doesn't sound like much but that's a few bills paid just because the valuation went up.

Hope Halifax are kind to you....

cahillg81

Halifax indexation is normally pretty decent. Give them a call and ask.

Boredatwrork

As the guys said, you can call them at any point in your mortgage and ask them what your current valuation is, if you feel this is incorrect ask them your options, When I was with them they advised they could do a more intense valuation all though at a one off £.

westv

cahillg81 wrote: »

Halifax indexation is normally pretty decent.

I see they no longer provide a "house price calculator" similar to Nationwide's - or did they ever do that anyway?