Should I Get My House Revalued Before Remortgaging

If you're planning to remortgage your property, getting your house revalued is often a wise move. The current value of your home plays a critical role in determining your loan-to-value (LTV) ratio, which directly affects the interest rates and mortgage deals you're offered. A higher valuation could mean you qualify for better terms, while an outdated or low estimate could restrict your options.

Remortgaging is usually done to reduce monthly payments, release equity, or switch to a better deal. Whether you're coming to the end of a fixed rate or simply trying to reduce costs, knowing the true market value of your property can give you a stronger negotiating position with lenders.

Why Valuation Matters When Remortgaging

Your lender will base the new mortgage offer on the current value of your property, not the amount you originally paid. This is particularly important if house prices in your area have risen since your initial purchase. If your property has appreciated significantly, your loan will make up a smaller percentage of the property's value, resulting in a lower LTV. This can open the door to a wider range of deals, many with reduced interest rates.

For example, if your mortgage is £180,000 and your home is currently worth £300,000, your LTV would be 60 percent. But if your house is only valued at £250,000, the LTV increases to 72 percent, which might push you into a higher interest bracket. That’s why an accurate valuation can make a meaningful difference to your borrowing power and monthly repayments.

When You Should Arrange a Revaluation

If you've made significant improvements to your home, such as an extension, loft conversion, or new kitchen, it may be worth arranging a valuation before you start the remortgage process. Even without renovations, local market trends could have boosted your home’s value, especially in areas with high demand or infrastructure investment.

Timing is also key. House prices can fluctuate, so it's sensible to monitor the market and choose a moment when property values in your area are strong. If prices have dipped or there’s economic uncertainty, it might be worth delaying unless you urgently need to remortgage.

How Lenders Value Your Property

When you apply for a remortgage, the lender will usually conduct their own valuation. This may be a full physical inspection, a drive-by valuation, or a desktop valuation using online data and recent sales. The method chosen depends on the lender’s risk appetite and the complexity of the property. If the lender’s valuation comes in lower than expected, you could lose access to the best deals.

While the valuation used by lenders is typically free of charge, it’s not always in your control. In some cases, it may undervalue your home, especially if improvements are not recorded in public data or if recent local sales have been unusually low.

Should You Get an Independent Valuation First?

Commissioning an independent surveyor before remortgaging can give you a clearer picture of your property’s true value. This is particularly useful if you disagree with a lender’s estimate or believe the improvements you’ve made aren’t being fairly reflected.

Although it comes at a cost, usually starting from around £250, an independent valuation can help you prepare better for negotiations and decide whether now is the right time to switch your mortgage.

Tips to Maximise Your Valuation

Before a lender’s valuer visits, it helps to present your property in its best light. Clear clutter, tidy the garden, complete minor repairs, and highlight any improvements. Make sure you have planning permission documents or completion certificates available for any major work that has increased the property’s size or value.

Some homeowners also provide comparable local sales data to support their belief that the home is worth more than a desktop model might suggest. This proactive approach can be especially helpful if your property is unique or non-standard.

Conclusion

Getting your house revalued before remortgaging can be a smart move, particularly if property values in your area have increased or you've made home improvements. A higher valuation can reduce your LTV, opening access to better interest rates and saving you money over the life of your mortgage. While lenders carry out their own assessments, seeking an independent valuation beforehand gives you a clearer picture and strengthens your position. Preparing your property and choosing the right time to act will improve your chances of a successful remortgage on the best possible terms.