Remortgaging trying to get better LTV

Cat4321

Our mortgage is up for W real in March with Halifax. We have left £179 and bought the house for 200,000 in 2016. We think the value will have increased, however, we have much needed home improvements needed which would affect value. Bathroom/kitchen/window.

When you remortgage do you have to always pay to get it revalued? Trying to see if can get the ltv below 80% and save some money. Thanks in advance.

Thrugelmir

Your existing lender will use an internal index valuation to determine what products they'll offer on renewal. Wait to see what's on offer before deciding what your next move will be. You do have the option of paying for a valuation if it would be cost effective. Home improvements don't always add the value people imagine.

Remortgaging to a new lender would require a full valuation by default. In addition you could incur additional costs such as mortgage exit fee and legal fees.

Cat4321

Thank you for this info.