Survey querie

doelani

our house is worth between £180k -£200k we currently have £40k mortgage and have applied to remortgage with another company as our deal is finished soon and we want equity releas as well , so new mortgage is for £80k. We are looking to pay our debts with teh extra money.

We had mortage promise and yestedray Mortgage Advisor put the application through, so just had call to ask if surveyor can come tomorrow, _pale_

OK I was not expecting this so quick, any other time I bought a house we got mortgage offer subject to survey but this company seems to be doing it different. Is this normal now, I would add we are getting free survey so Mortgage company acually paying for it not us.

I am worried though as we got a room replastered a few weeks ago and have not got around to painting it yet, was planning to do it over weekend but hubby says will make no difference,

Can anyone reassure me that the surveyor will not worry that a room is in middle of being decorated. I am hopping that this visit is only a formality becasue we are not even borrowing 50% of teh value of our home.

thanks

HelpWhereIcan

Decor is something that most surveyors (unlike buyers) can see past.

If they can see that the 'development' that is going on is non structural it should not cause a problem.

What is the maximum loan to value allowed on the product you have applied for?

If, for example, it is 75% you will be ok as long as he values it at more than 106,666 which, from what you have posted, should not be a worry.

doelani

the max LTV for this product is 80% , so just hope ok. The house we are in is over 100 years old and over the years we have replastered a number of rooms and this will eb an ongoing process as big house and cannot afford to get it all done at once, no worse than what it was when we bought house 9 years ago. We have replasterd 4 rooms but still a number to go lol

thanks

dwsjarcmcd

Relax, a room needing repainting is not going to impact the value.