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How does nationwide value houses

Hi. I am with nationwide(as I purchase house with them) . I am also look to remortgage with them. I got a valuation for remortgage. How do they work our remortgage values? Is it sold house prices in area? 

Also I will have 60 percent ltv after revalue.
i presume next getting better ltv won’t get me better rates? As 60 percent is optimal?
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