Mortgage renewal advice request

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  • Mortgage renewal advice request
  • trail_rat

    Followin with interest. We did similar and fitted all new heating – combi condenser and rads where there was a broken cantankerous old boiler before + rewired from rubber wire to current regs – then modernised the interior- removing lots of 1980s and mdf.

    My only issue is i need to get the place ship shape before march (end of fix) and my hall and back bedroom are still in progress.


    tell some agents you are interested in selling for free valuations. Might have to be taken with a pinch of salt but will give you a ball-park.

    Or some will do mortgage valuations for a small fee.

    Or ask your lender how much to send one of their assessors round to value it.

    We’re remortgaging and Natwest sent a surveyor to value it, no cost to us. Maybe this doesn’t help, but if you’re going to remortgage anyway, maybe just get it done that way? Can always look at other providers rates afterwards if you’re first pick I doesn’t work out, and you’ll know the value then.

    We’re currently with Virgin Money (previously Norther Rock). We’ve considered getting EA’s in to give us an Idea.

    Two years ago we bought a renovation project in North Wales that was meant to go to auction but we managed to purchase before it went under the hammer for what we have been lead to believe was a very good price.

    We’ve now come to the end of our fixed-rate mortgage and we’ve had Central heating and new windows fitted throughout, reclaimed the garden and moved the bathroom from down to upstairs. Obviously this could mean the house is worth considerably more than we paid for it and would like to get a better mortgage (lower LTV if possible).

    What is the best (cheapest) way of getting a revaluation?

    if you’re going to remortgage anyway, maybe just get it done that way?

    We were worried they [our current lenders] might only use the previous valuation which was based on the price we paid out of auction for it. We obviously want to avoid all costs associated with switching lenders if possible.


    over night ive decided im going to phone my provider when the time comes in march – explain the situation – we wont be the first to buy an old house and do it up.

    sounds like you did the right things at least – got a mate doing this just now and hes more or less tickling the aesthetics to give it a modern look without improving the fabric – but thinks its adding value.

    tbh my opinion is alot of what i did wont add value but will make it more salable – who wants a house with broken heating and needing rewired (if you have to pay full whack for contractors) but ill happily take my chances paying a couple hundred quid for the posibility of getting down to a 70% LTV and half the interest rate based on the inflation of aberdeen prices in the time ive bought alone without considering improvements….


    Strong first post.


    Now the spam’s been removed…is there an update on how you did it highclimber?

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