What if... my property valuation is too low for the mortgage I want?

The smaller your mortgage is (relative to what your house is worth) the better rate you’ll get. But if the sums don’t stack up, here’s what to do…

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So, you’re looking to re-mortgage your house, but the valuation you got back isn’t quite what you hoped for.

There are four things that you can do.

1. Compare similar properties in your area, go online and see what other similar properties are selling for in your area. You can then use this as a bargaining chip with your lender.


2. Shout about home improvements, if you’ve made major improvements to your home like new windows or an extension, get in touch with your lender and ask for another valuation. You might also want to ask for full internal inspection of your home, but be aware you will have to pay extra for this.


3. Get a second opinion and try another lender. Alternatively, you pay for an independent valuation and take this to your lender.


4. If none of the above are working out for you, you can always go to another lender and see if they can offer a better deal.

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