Re-mortgaging House estimation

ryanbay123

HI all, first time posting, forgive me in advance.

My first time remoratging after a 2 year fixed deal with nationwide is coming up and im pretty much clueless on the process. 

my ultimate aim is to decrease my monthly payments by getting a better interest rate than the 2.9% I'm currently on. 

I've seen that this is possible by increasing the the estimated value of the house, and looking at zoopla's estimation on my property it gives me an extra £30K to play with. And as i guessed, using this new figure gives me more attractive rates. 

So later on in the year when i come to do this, using the new property price, will the new mortgage lender just take my word for it, or will there be more investigating into it 

Thanks 
Ryan   

Rolandtheroadie

I've lived in the same street all my life, so have had a bit of an interest in what houses around me have sold for. 
 Nationwide never questioned my valuation when I started a mortgage with them, and didn't at my remortgage. 

 For my house, the Nationwide calculator is where I'd expect it to be, I'd use this as a comparison to what you see on Zoopla.

 https://www.nationwide.co.uk/about/house-price-index/house-price-calculator#tab:HousePricecalculator

Edit to add, the Zoopla valuation of mines is 3% over the Nationwide estimate. 

ryanbay123

Thank You for that, got the answer i was looking for