House Undervalued for Re-mortgage

Lukas018

Hi,
Pre-COVID my mortgage was up for renewal and rate offered by previous provider was high and they would not carryout a valuation on the house, just what I have paid off.
I live near Gatwick, West Sussex and we bought our 2 bed house in Feb 2018 for £312,000 my two year fixed rate finished Feb 2020. It was a 90% mortgage when we bought the house.
When we approached 3 mortgage providers they all valued the house at £310,000 which I was shocked to be honest as I thought the house prices were rising and we needed to be valued £315k or higher to fall within the loan to value ratio of 80% to get lower rate, but fell outside and ended up paying a higher rate.
Just wanted to see if anyone else had this issue or were they undervaluing to get the higher rate?
Thank you. 

RelievedSheff

Have you checked on the Land Registry or Rightmove etc, to see what other comparable properties have sold for in the area recently?

Lukas018

Yes they were valuing between £315-320k which is what I expected, if there was slump I didn't know, just seems unjust but if 3 are saying same thing there must be some truth.