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New fix with the same lender
thatoldchestnut
Posts: 123 Forumite
I know it doesn't always get you the best deal, but if you get a new fix with the same mortgage lender when your first one ends, do they ever want to do affordability/credit/eligibility checks or property valuations? What I've seen online suggests they don't usually, but just wanted to see if that is still the case these days. Not due to fix again for a few years, just curious so I can weigh things up for when the time comes.
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Comments
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No checks if you apply online. Regulations determine that where lenders are deemed to be providing advice, they conduct checks to cover their own backsides.1
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They will not automatically conduct a new valuation either, but they will usually adjust the original valuation using an index to reflect how prices have moved.You will have the option to pay for a new valuation if you feel your specific circumstances would give you a high enough increase in value to drop down to a cheaper LTV bracket.1
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