How are home improvements valued for remortgage?

[TyrionsNextWife]

I’ll be thinking about remortgaging soon for the first time since buying my house and over the last 2 years I’ve done some renovation work (new windows & doors, new boiler, extensive replastering and things like that).

How would that factor into a valuation for remortgaging? Would the mortgage company take these sorts of things into account or would they look at local prices and just use an inflation formula? I’m hoping to drop down an ltv bracket to get a better rate, so any extra ‘value’ that can be added on would be great!

I’m in Scotland if that makes any difference.

Typically none of that will add value to a mortgage company. Only square footage adds value. If you stay with the same company it will probably be a desktop valuation based on what you paid

All of those seem more like home maintenance.

Thank you Alexalee, I suspected that would be the case but hoped I was wrong

Do you think it would be worth going with a new mortgage provider and asking for an on-site valuation from a surveyor?

When we remortgaged (with same provider) we had the option of a desktop valuation which wouldn't be binding (i.e. if it was less we could still with our original mortgage valuation) or paying for a revaluation which would be binding.

It might be worth finding out what the desktop valuation would be - ours went up a surprising amount in a few years which dropped us quite a few ltv brackets.

@soulrider that’s great advice, thank you!