Remortgage with Barclays

Icardi99

I'm Remortgaging with Barclays which is my current Lender, I've applied for additional borrowing but Barclays is taking for ever constantly requesting additional paperwork. At what stage will they do a property valuation or would they not do a property valuation as it was done 5 years ago by their selves? Thank you all in advance for all your answers 🙏

El_Torro

It's my understanding that if you are borrowing more they probably will need to do a new valuation. Especially if there won't be a lot of equity left in the property. 

kingstreet

You are doing a rate switch and separately applying for a further advance. This is dealt with differently than a remortgage which refers to those coming from another lender.

Barclays requires a new valuation on all further advances.

https://intermediaries.uk.barclays/home/lending-criteria/residential/existing-residential-customers/

Icardi99

Thank you all for your help 🙏