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Re Mortgage valualtion
ajp1309
Posts: 67 Forumite
So we are due to come to end of our fix rate so are looking to remortgage.
We got our house at a really good price so the value now has risen quite alot. I explained this to the broker and that our current mortgage lenders were using hpi to value which is a lot less than its market value. As he works in an estate agents and the estate agent agreed that it was worth more he said it shouldnt be an issue.
However when looking at deals our current lender was a good rate through him at current market value (couldnt get it direct). So we decided to go for that deal and pay the broker.
He has come back now though and said they will only do the ltv at the hpi rate so a bit confused as to where we stand now.
I only went with the broker as he could offer a good rate with current lender and it would be easier to stay with current lender as there wouldnt be as much as an idepth check as going with a new company.If I hadnt gone with the broker I was going to apply direct with santander and do the work my self I could then have the extra money to pay for a new valuation if needed although other supplier were offering a free valuation on remortgaging.
Any advice appreciated as it will make a big difference to the LTV if its remortaged at its correct value.
We got our house at a really good price so the value now has risen quite alot. I explained this to the broker and that our current mortgage lenders were using hpi to value which is a lot less than its market value. As he works in an estate agents and the estate agent agreed that it was worth more he said it shouldnt be an issue.
However when looking at deals our current lender was a good rate through him at current market value (couldnt get it direct). So we decided to go for that deal and pay the broker.
He has come back now though and said they will only do the ltv at the hpi rate so a bit confused as to where we stand now.
I only went with the broker as he could offer a good rate with current lender and it would be easier to stay with current lender as there wouldnt be as much as an idepth check as going with a new company.If I hadnt gone with the broker I was going to apply direct with santander and do the work my self I could then have the extra money to pay for a new valuation if needed although other supplier were offering a free valuation on remortgaging.
Any advice appreciated as it will make a big difference to the LTV if its remortaged at its correct value.
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