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@Dammit
Been an interesting week for flat valuations.
We're remortgaging, so an official valuer came round, nice chap but obviously his responsibility is to the mortgage company.
If we default and HSBC foreclose they need to 100% guarantee that they'll get what the valuer says, so he has said 215K.
Today we had a local estate agent round who said 225, 230 for the right person.
This is in light of every single room still needing to be finished- what can I say, I'm lazy.
What both the valuer and the estate agent agreed on is that once we'd finished the place would be "high two hundreds to low three hundreds", which was good to hear.
However, it means that we don't hit the 60% loan to value ratio that we needed for the 3.49% fixed rate we were after.
I'm thinking of going to a base rate tracker at 3.79% whilst I tile the bathroom etc, then get the place revalued and remortgage again when we know we can get a 250K valuation- which should be mid-next year.
Is this a silly idea? Alternatives?