Fix expiry on mortgage

[SarahLdn740]

Hi, has anyone recently had their mortgage fix rate finish and a letter from the bank stating their property’s current valuation? HSBC told me that’s what they do when you approach the end of your fixed rate. Curious to know if bank valuations are massively down vs your previous one/ purchase price… Just to prepare myself!

We went through a broker a few months before to lock in the deal (rates were rising at the time) so they sent a surveyor to value the property. He asked what figure is used in the application, I told him and he said I’d undervalued so we wouldn’t have any issues getting the mortgage and he valued it at £30k more (but that made no difference to the end result). Some valuations are more accurate than others if not done in person - look at zoopla and you’ll see variations.

Our fixed deal is due to end this June. When I log into the mortgage account online it shows the LTV against the current balance so I can work the valuation out using that. It's still roughly the same as it was when we remortgaged 2 years ago.