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@Dammit
Value of the house, less the value that the bank paid, is your deposit.
Less the amount you've paid off as well I would think.
Or so I understand it.
We need to agree a new deal in August/September, so that's when I need the work to be finished.
Having paid 190, I am hoping to get it revalued at ~230, thus increasing the deposit side by 40K.
This should push us over the threshold, and get us a better rate when as the loan to value ratio will have changed in our favour.