Mortgage renewal

David M

Winger
Recently received my renewal proposal through off my current lender. I'm a bit disappointed with the valuation they've given (<£3k approx). Of course this affects the LTV ratio - I was hoping for no more than 80% as I was intending to put a lumper in to get it down to 75%.
If I go in to see an advisor is this something that can be negotiated in my favour?
 

SeahamMackem

Midfield
You can base the valuation on the application on whatever figure you’d like or believe it is within reason.
Then it’s just a case of the mortgage company valuing it and seeing what they come back with.

Have a look on Zoopla house valuation and maybe knock £5k off of that is usually a decent place to start.

Who’s you’re mortgage with currently?
 

David M

Winger
Tbf, my current lender does come back with the lowest rates when I search comparison sites so I'm not looking to switch lender but a more favourable LTV would be nice - even just 1%.
You can base the valuation on the application on whatever figure you’d like or believe it is within reason.
Then it’s just a case of the mortgage company valuing it and seeing what they come back with.

Have a look on Zoopla house valuation and maybe knock £5k off of that is usually a decent place to start.

Who’s you’re mortgage with currently?
HSBC.
 
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SeahamMackem

Midfield
Tbf, my current lender does come back with the lowest rates when I search comparison sites so I'm not looking to switch lender but a more favourable LTV would be nice - even just 1%.


HSBC.
HSBC do tend to have excellent rates. They may be willing to do a physical valuation, but you run the risk of it coming back lower than they’ve based it on already.
I’d only ask them to do it if you’re 100% confident the house is worth more than they’ve based the offer on.
 

Tyler Durden

Midfield
Recently received my renewal proposal through off my current lender. I'm a bit disappointed with the valuation they've given (<£3k approx). Of course this affects the LTV ratio - I was hoping for no more than 80% as I was intending to put a lumper in to get it down to 75%.
If I go in to see an advisor is this something that can be negotiated in my favour?
We are in the process of remortgaging, we are using Habito, they are an online firm. They do all the hard work for you, recommend the best deals. You communicate through live chat and the odd phone call. They have been really good, can’t recommend them enough.
 
there isn't any hard work about re-mortgaging to be honest, piece of piss. Barclays doing 1.74% 5 year fixed 75% ltv at the moment, I fully expect that to be beaten soon though
 

HABA87

Winger
Another 30 payments on my fixed rate then renewal. Hopefully sub 2% is still the going rate then.
 

Mackem00

Striker
I'll be down to about 60% LTV when I come to renew next year. Have got into the bug of over paying but thinkin I'd rather have the extra cash now tbh.
 
I'll be down to about 60% LTV when I come to renew next year. Have got into the bug of over paying but thinkin I'd rather have the extra cash now tbh.
Don't

Keep overpaying..long run be far better off
What's best btl rates at present

With 50% ltv

I have 2.64% above base at present so 3.14
 
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Longy

Striker
You can base the valuation on the application on whatever figure you’d like or believe it is within reason.
Then it’s just a case of the mortgage company valuing it and seeing what they come back with.

Have a look on Zoopla house valuation and maybe knock £5k off of that is usually a decent place to start.

Who’s you’re mortgage with currently?
I’ve just done a further advance & used Zoopla as a guide. Didn’t think it was worth that, the lender had an internal valuation that was lower, but thought I might as well push it to get the extra money. Valuation cane back in my favour. Pleasantly surprised
 

Kevsgreat

Striker
Newcastle Building Society gave us a valuation I thought was a bit low on renewal, but they wanted £80 to come out for a proper valuation and with no guarantee it would be higher I just left it :lol:
 

Longy

Striker
Just checked its £999.
Given that you live in a pit village, mortgage shouldnt be too big, is chucking an additional grand onto mortgage for sake of 0.2 or 0.3% worth it?
When I’ve looked into it, £1k fees have seemed only to be worth it on borrowing of about £170k-£180k or more. Anything less wasn’t worth it. The gaps between the products with & without fees could’ve changed since I last looked, so not a straight forward guide, but might help the lad you replied to.
 
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David M

Winger
I was speaking with a mortgage adviser earlier and he's received word that HSBC are lowering their interest rates tomorrow and suggested that in my case I'm probably better off dealing with HSBC direct rather than engage a 3rd party mortgage adviser as I'm unlikely to get a better rate elsewhere.
 

MonkeyLove

Striker
Recently received my renewal proposal through off my current lender. I'm a bit disappointed with the valuation they've given (<£3k approx). Of course this affects the LTV ratio - I was hoping for no more than 80% as I was intending to put a lumper in to get it down to 75%.
If I go in to see an advisor is this something that can be negotiated in my favour?
How was the valuation done?

If it's just their system based on local data that doesn't take anything in to account (Like improvements you have made)

If you had a chartered surveyor come out and do a valuation like when you bought it it's unlikely to be far off.
 

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