2yr fixed coming to end

catoutthebag

Hi my first mortgage coming to end with nationwide in 2 months. I got a letter saying they'll give me cash back or something.

No idea what to do now?

Do I get another valuation? I paid 88.5, it's worth 105-110 with recent sales and some improvement. I'm self employed, no change in pay

I want to fix, 2-3 years max

foxy-stoat

Call them for their best customer retention deal and fix it again if you like - or stay on their variable rate.

catoutthebag

How much haggle room is there usually? Or more cash back haggle?

Do I need a property valuer? Who organises and pays?

Harryp_24

catoutthebag wrote: »

How much haggle room is there usually? Or more cash back haggle?

None. its a set £250 for nationwide

catoutthebag wrote: »

Do I need a property valuer? Who organises and pays?

If you're just staying with nationwide then no, its a simple re fix deal.

catoutthebag

Harryp_24 wrote: »

None. its a set £250 for nationwide


If you're just staying with nationwide then no, its a simple re fix deal.

Yes but how do they evaluate current property value?

If I switch, who pays for revaluation?

Are providers likely to give me a low property value eg 100k instead of 110k to favour themselves then me argue?

tom2205

Value will be based on Price Index. They should be able to give you an estimated value based on this. Should this be massively different to what you think then instruct a revaluation. If you switch provider then you may pay a new valuation fee or the lender you go to may. If you have comparable evidence of the price at the £110k figure then a local surveyor should accurately price it at that.