How to increase the value of our house with £0

[Daboomboom]

Our fixed term has ended. We are looking to borrow more than we owe so that we can get a new roof and decorate (the house is tatty). The roof could be repaired but it makes more sense to replace it at this point. You cant see any issues from outside but when you go in the attic you can see patches of daylight and the state of the felt.

The amount we are borrowing is still less than half the value of the house even as it is.

Last time we remortgaged (fixed term ended) we only borrowed what was outstanding but the man undervalued our house significantly. It wasnt an issue because it was still more than we were borrowing but was upsetting and concerning.

Since then we've done quite a bit of work including making the attic accessible/usable. The last valuer couldnt get into the attic so couldnt see the roof. The new one will be able to so that will go against us.

All this is a long winded way of saying, how can we increase the value of our house easily, quickly and without spending anything. We are not selling so its just about appearances.

I will be moving the boxes about in the attic to hide the main areas of concern.

I doubt you can. Declutterring and hiding problems isn’t going to magic up value.

I wouldn’t be focussing on things you need to do in the house. If your aim is just to get a good valuation for a remortgage and you don’t plan on moving/selling, I would be looking at the local market- you can find sold prices on Zoopla, getting an idea of what you want them to value it at and saving it as evidence!

You could even get an estate agent to provide a letter estimating the value in the local market. That’s what I did when we needed a specific value to get under the next LTV band and get a better rate. The house was a bit unique with not much to compare to so we worried that the mortgage value would be less than we knew it would achieve in the local market- a local estate agent popped out for 15 mins and sent us a letter a day or two later which we provided to the mortgage company. The value they then gave was exactly the estate agents letter.

Decluttering, cleaning and tidying up gardens are the only 'free' things really and even then you have to figure out disposal (which can cost for garden waste etc...).

Paint can be quick and easy but costs money, low amount of money though.

The property market around us is very "healthy". 🤣

A house a few doors down that is pretty identical to ours (but much smarter) went for about 10% more than I'd expect. However another that is a similar went for about £20k less than Id have expected. That was very messy and needed new windows.

These are relatively cheap houses BTW so we're not talking huge amounts of money.

If you’re borrowing less than half its value why are you hoping to increase the total value? You won’t need it for mortgage purposes, and you’re not selling…

Because the last valuation was significantly undervalued. It didnt matter that time but if it happens this time, it will matter.

A lot of mumsnetters will pay a hell of a lot more than a house is worth if they see posh throws and cushions and Aesop hand wash. Maybe dot some of that around.

But why? Do you think it will be valued at half what you think it’s worth, and therefore you won’t get the loan? It only needs to be valued at 10% more than the total mortgage.

Word of caution - if the roof is so bad you can see daylight through it, it might be unmortgageable. So fix that. Or hide with felt.

Roofs don't need felt on the to work and being ae to see daylight through them isn't a problem in itself, it is only an issue if water is coming through.
There can be gaps between tiles which the water cant get through because of the angles.

Also unless a roof has failed seriously I. E. Lots of water is getting in, or is rotten or structurally unsound, or covered with spray insulation then it won't make a property unmortgagable.

The only water coming in is when its very heavy rain and windy. Then the water is forced in. Normal rain is fine. There is no rot or missing tiles or consistent leaks etc. There are no water marks on the floor.

When we got the attic boarded out, the men doing it said the roof was a bit of a mess.

The hatch was in an inaccessible place and tiny so there was no way the last valuer could get in.

Just because it was valued at less than you expected that doesn’t mean it was undervalued. Most valuations to remortgage are just desktop valuations, not actual physical inspections, especially if going with the same lender.

How do you know there’s no rot if the roof is pretty much inaccessible???

Your lender could accept just proof of 2-3 properties on the same road sold close to that amount (many banks do that)
could you do that?

Get rid of bad neighbours.

"Word of caution - if the roof is so bad you can see daylight through it, it might be unmortgageable. So fix that."

The OP wants to fix the roof, that's the whole point! But they need a further advance on the mortgage to be able to afford it. Hence needing the valuation.

Yes I realise that. But lenders can be funny buggers. We wanted to borrow to do a loft conversion - lender wouldn’t lend as it involved taking the roof off which would leave the house temporarily at risk….

It was a physical valuation and we compared it with sold prices on Rightmove for similar houses in the area. It was evidence based, not just what we thought it should be.

It is accessible?

This. Get rid of weeds, bleach, clean.

Stage it? Flowers, throws, hanging baskets? I know you said zero but you must have wriggle room?