Remortgage

Anthonyjc

We remortgaged our house last year to get a better rate. We went back to the same bank. Should the lender have re-valued our house to give us a more up-to-date loan-to-value amount? In the two years that we had a fixed rate mortgage, we made quite a few improvements to our house (such as new windows and doors, rendering and renovating inside) and we were told we just missed out on the lower interest bracket. Now I’m wondering if they had revalued then would our loan-to-value would have fallen under the lower interest bracket...

LRmortgage

They probably did an electronic valuation at the time using house price indexes.

If you wanted a physical valuation in order for the to agree a higher property value than they suggested you would have needed to ask them to do it (and you would have had to pay for it).