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If I get a new valuation carried out on my property do I qualify for a better mortgage deal?

Carrying out a more up to date valuation on your property can sometimes help you to receive a better mortgage offer. However this is not always the case.

Any deals offered to you will be subject to the new valuation of your property. If you use our House Pricing Index (HPI) over the phone, the highest figure will always be used for your valuation, regardless of whether or not it is the new figure or the previous one.

If however, you choose to use an independent valuer to value your property, their result will always be the one we use as a valuation.

This means that getting a re-valuation of your property might not always result in a better offer. You should read How can I request an up to date mortgage valuation on my property? for more information.

When should I carry out a new valuation?

If something has happened which you think will lead to a big difference in your property's value then it may be worth carrying out a re-valuation.

The following are unlikely to add value for mortgage purposes:

  • New kitchen
  • New bathroom
  • Internal decoration
  • Garden landscaping
  • Provision or upgrading of central heating
  • Provision of double glazing
  • A higher than average standard of finish ie marble worktops, gold taps
  • Anything removable ie carpets, flooring, kitchen or white goods

The following may add value:

  • Extensions
  • Loft conversions
  • Conservatories
  • Garage conversions

Please not that the above lists are not exhaustive.

Your home may be repossessed if you do not keep up repayments on your mortgage