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  • Thanks, that's reassuring. It's my first remortgage so I'm new to this!

    edit: that makes sense/seems obvious now if changing lender. Presumably if staying with the same lender they'd do something similar.

  • Staying with the same lender is usually very straightforward if you don’t borrow money.
    If you borrow money it’s not a ‘remortgage’ as such, it’s further borrowing, and depending on your lender it may be at a different rate.
    Your existing lender will typically use an electronic index value rather than sending a physical valuer (unless you pay for this) so might give you a lower value than expected.

    Remortgaging with a new lender tends to have better results with value and rates offered.

    Both will be subject to affordability assessment to make sure you can afford the increased borrowing amount, conveyancing should be pretty straightforward and normally offered by the lender for free.

  • When I remortgaged recently the 'electronic index value' seemed higher than the probable market value to me. If I wanted to remortgage and borrow further do you think my lender would use the electronic index value?

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