Nationwide Re-mortgage

[Deleted User]

Hello, I am now within my 3 month period of my current Nationwide deal ending, I've checked the house price index and should now be at the 75% LTV however when I get the the 'choose your deal' part it's obviously put me in the 80% LTV catagory, it does not state what house value they have come up with anywhere, would they tell me over the phone? Could it be they are still updating their Q2 valuations and I should wait a while? Just worried about an imminent rate rises!
Thanks.

Penelopa.Pitstop

House value is showing on KFI, you have to open it and read it. It should be available before you confirm your switch, because it says: "You are not bound by the terms of this offer document until you have confirmed acceptance by clicking 'Switch Now' on the Offer Acceptance screen and paid the applicable fee when required."

Just call them, they will tell you.

Mind you, my house value is nowhere near they calculator on the website, it's much higher in KFI.

[Deleted User]

Just an update, I used their House Price Index which they told me they use to value the property, however when I called for the valuation it was 6K under that!

They said I can appeal and they will decide in a few days time. Has anyone had any experience with this? I'm currently at 76.5% LTV and cannot make up the difference otherwise I'd just make a big over payment. I need to stay with NW for various reason.

ACP021

Properties are being downvalued all over the place and the automated valuation systems are particularly responsive to downward pressure. If you feel that your house is worth more (realistically) then you could choose to remortgage to another lender but it's not without risks that a new valuer also lowers the amount. It can be worth doing this is if you have significantly improved the property since your original valuation with Nationwide as the improvements would only be seen with an inspection.