Valuation on remortgage

atlasmm

Hi,

We’re in a situation where we are right on the cusp of falling under the 90% LTV bracket. Falling into 95% LTV isn’t an option given the rates, so I either need a higher valuation or to overpay. 

Would rather avoid overpaying if possible. 

Have had 2 lenders valuations come back at £270k - £5k less than what I’d need to be at 90% LTV (£275k). 

At this point, is it worth trying any further lenders, or is it safe to assume they will most likely conclude the same and that I’ll have to overpay?

Thanks

kingstreet

If you've already had two come out the same, I suspect the usual lender surveyors will use the same data and reach the same conclusion.

Mark_d

So you've completed two mortgage applications and had two credit checks?  Trying a third mortgage lender might get a better LTV but you might also get more expensive mortgage.  Personally I would pay a little in to the mortgage to get you down to 90% LTV

ACG

I have submitted an application 2 lenders, the first downvalued by £10k, the second valued it bob on the purchase price. 

It is possible to get a different outcome. But I think where you are sitting there saying its on the cusp and 2 surveyors have valued it the same, you are unlikely to get the outcome you want. Thats not to say it wont happen. But I think it is unlikely.