Should I Get My House Revalued Before Remortgaging?

Should I Get My House Revalued Before Remortgaging?

Remortgaging is one of the most powerful financial tools available to UK homeowners. Whether you are looking to reduce your monthly repayments, raise capital for a renovation project, or simply secure a better rate than your current mortgage offers, timing and preparation are everything. One question that often arises during this process is whether it is worth having your property revalued before you apply. The answer, while not one-size-fits-all, can make a meaningful difference to both your borrowing power and the deals available to you.

This article will walk you through the reasons why a house revaluation can be a smart move, how the process works, and the implications it can have on your remortgaging journey. Whether you are a seasoned property investor or a homeowner exploring remortgaging for the first time, understanding how value is assessed and how it affects your mortgage offer could lead to substantial savings and flexibility.

What Is a Property Revaluation?

A property revaluation is a formal assessment of your home's current market value, typically conducted by a qualified surveyor. This valuation is used by mortgage lenders to determine the loan-to-value ratio, which directly influences the interest rates and product options they are willing to offer. It reflects not only the condition and presentation of your home but also wider market trends and the selling prices of similar properties in your area.

This valuation is not to be confused with an estate agent’s appraisal or a desktop estimate generated online. Mortgage lenders require an accurate and professionally verified figure because it affects the level of risk they are taking on. This means that an undervaluation could lead to less favourable lending terms, while a well-supported higher valuation could open up better rates or higher borrowing capacity.

Why Property Value Matters When Remortgaging

The value of your home is a key determinant in how much you can borrow and at what cost. Most mortgage products are structured around loan-to-value brackets, and even a small change in valuation can shift your eligibility. For example, a valuation that lifts your property into a lower loan-to-value band can unlock lower interest rates and more competitive remortgage deals. This is especially important if you have made improvements to your home, such as an extension, loft conversion or major refurbishment, that may not yet be reflected in the lender's records.

In cases where your home has significantly increased in value since the original mortgage was agreed, a revaluation can allow you to release equity for other purposes such as buying another property, funding renovations or consolidating debt. On the other hand, if your property value has decreased, knowing this in advance may help you prepare for less favourable terms or even delay remortgaging until conditions improve.

When Planning Permission and Legal Aspects Come In

In general, you do not need any form of planning permission to have your house revalued, since the valuation itself is a financial process rather than a physical change to your property. However, if you are relying on a recent extension or conversion to boost your property's value, it is essential that all work was completed with the correct planning approvals and in accordance with Building Regulations. Surveyors and lenders will want to see evidence of compliance, including completion certificates or lawful development certificates, especially if these improvements are being used to justify a higher valuation.

If these documents are missing or the work is found to be non-compliant, it can negatively impact your valuation or even render parts of your home unrecognised by the lender. Ensuring your paperwork is in order before a revaluation takes place is a simple but vital step.

What You Might Expect to Pay and How to Manage the Cost

Some mortgage lenders will include a valuation as part of the remortgaging process at no additional cost. This may be a desktop valuation, which is quick and based on automated data, or a physical inspection depending on the lender’s criteria and the size of the loan. In other cases, particularly with more bespoke or higher value applications, you may need to commission an independent RICS-registered valuer. This typically costs between a few hundred to several hundred pounds depending on the property type, location and level of detail required.

While it is an extra expense, it can prove to be a worthwhile investment if it results in access to better rates, lower monthly payments or increased borrowing power. As with any professional service, choosing a qualified and experienced surveyor with knowledge of the local area is crucial to getting a reliable result.

The Typical Timeline and How to Prepare

From the point of arranging a revaluation to receiving the final report, the process usually takes one to two weeks. The inspection itself may last under an hour, but the scheduling, write-up and submission can take a few days either side. If the valuation is being conducted by the lender’s own panel, the process is usually integrated into your remortgage application timeline and does not add significant delays.

To prepare, it is worth ensuring that your property is clean, well presented and free from clutter. Any recent improvements should be documented with photos, invoices and compliance paperwork ready to share if needed. While surveyors will base their assessment on comparable evidence and condition rather than surface presentation, a well maintained and tidy home is more likely to create a positive impression and support a higher valuation.

Who Will Be Involved in the Process?

For most remortgage applications, your mortgage broker or lender will be your first point of contact. They will arrange the valuation, either internally or via a third-party provider. The valuer will be a RICS-certified professional with local knowledge and access to recent sales data. If your remortgage is complex, for example involving multiple properties or a large portfolio, you may also be working with an independent financial adviser or solicitor.

In all cases, it is important that you understand who is carrying out the valuation and on what basis. Some lenders rely on automated models for lower risk applications, while others may require a full inspection. Being clear on this from the outset will help you manage expectations and timelines.

Energy Efficiency and Sustainable Improvements

If you have invested in energy efficiency upgrades, such as better insulation, double glazing, solar panels or a new boiler, these can improve your EPC rating and may positively influence your property valuation. While not always reflected immediately in market value, particularly in slower areas, a more energy efficient home can appeal to lenders looking to reduce the carbon footprint of their mortgage book.

Some lenders now offer green mortgages with discounted rates for properties that meet certain EPC standards. If your upgrades qualify, this could be a compelling reason to request a new valuation as part of your remortgaging strategy.

Mistakes to Avoid When Seeking a Revaluation

A common mistake is assuming that all improvements automatically increase your property’s value. Some features, especially those not in keeping with the local market or finished to a poor standard, may not deliver the expected uplift. Over-personalised renovations or DIY work without proper certification can also lead to issues during the valuation.

Another pitfall is failing to check how the lender values properties. If your lender uses only desktop valuations and you are relying on recent physical upgrades, you may need to request a full inspection or switch lenders to get a fair assessment. Transparency, proper paperwork and realistic expectations are your best tools for success.

How a Revaluation Affects Investment and Resale Potential

If you are a landlord or developer, a current valuation is essential not just for remortgaging but for assessing your return on investment. A higher valuation can improve your leverage position and allow you to pull equity out for future projects. It also provides an updated benchmark for resale decisions, allowing you to set a price confidently based on current market conditions rather than outdated assumptions.

For homeowners, a revaluation can act as a financial checkpoint, helping you plan for the future and understand how your property fits into your long term financial goals. It is not just a formality. It is a chance to ensure your mortgage reflects your property's true worth and to put that equity to work in ways that benefit you.