My one year fix with BOI is up in the coming months. It was the best value at the time given the cashback but there are better options for me now. I was wondering if anyone has any advice regarding valuations for switching.
Original mortgage last august was at 90% LTV and we've spent more than 10% of the value in renovating and re configuring the entire house but no extension (internal insulation, remodeling downstairs, putting in steal beams/removing load bearing wall for new kitchen/living area, new bathroom, etc.). I imagine (hope!) the money spent on renovations would have some impact on the resale value. COVID is another complicating factor although our house is in FTB territory so perhaps might be less impacted.
If the revaluation of the house and our repayments during the year were to get our LTV to 80% we'd go with UB and fix for 5 years at 2.2%, otherwise we'd go with KBC and fix for a shorter period. However I don't know what value a valuer would quote me. Has anyone been in this situation before and do they have any advice? Would estate agent's give me indicative valuations even though it is the bank that would choose them?
Original mortgage last august was at 90% LTV and we've spent more than 10% of the value in renovating and re configuring the entire house but no extension (internal insulation, remodeling downstairs, putting in steal beams/removing load bearing wall for new kitchen/living area, new bathroom, etc.). I imagine (hope!) the money spent on renovations would have some impact on the resale value. COVID is another complicating factor although our house is in FTB territory so perhaps might be less impacted.
If the revaluation of the house and our repayments during the year were to get our LTV to 80% we'd go with UB and fix for 5 years at 2.2%, otherwise we'd go with KBC and fix for a shorter period. However I don't know what value a valuer would quote me. Has anyone been in this situation before and do they have any advice? Would estate agent's give me indicative valuations even though it is the bank that would choose them?