Shared Owenership - Staircasing: Valuation expires before I can remortgage. What can I do?

Pear

I am looking to staircase on a shared ownership property and currently on a fixed term mortgage. I have had a valuation for the property and housing association says it will only be valid for 3 months. The current fixed term mortgage will end in January, and from February the new fixed rate mortgage can start which would be the date when we would complete. But the valuation report for the property will have expired before February by a few weeks.

I want to do a simple remortgage of the total amount.

1.Is it possible I can extend the valuation?

2.What other options can I consider, apart from the below?

a) Paying the early repayment fee to get out of the current fixed term mortgage earlier.

b) Porting a mortgage, whereby I transfer the existing mortgage when the fixed term end to the new mortgage for the additional share.

Mizydoscape

You can usually pay a smaller amount for a desktop valuation, that extends the valuation for a further 3 months. Who is your loan with? 

The other 2 options are also available to you.

eddddy

Presumably you instructed the RICS valuer - so you can contact them and ask what they would charge for a revaluation after 3 months.  They'd probably do the revaluation without visiting the property, so their fee might be much cheaper.

Or you can ask the housing association if they can be flexible and accept a slightly out-of-date valuation (but I suspect they'll say no)

Or you can ask your mortgage lender about increasing your borrowing - rather than re-mortgaging with another lender. Typically, that might mean your existing loan remains on the current terms (same interest rate, same fixed period) - but the extra borrowing is on new terms (e.g. a higher interest rate, etc)