Remortgage valuation

Lenders use a valuation to confirm what your property is worth today. That value directly affects your LTV, which can change the rates and deals available.

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Quick answer

A remortgage valuation is a lender check of your property value. It might be automated (no visit), desktop-based, or a physical inspection. Sometimes it’s free, sometimes you pay. A lower-than-expected value can push you into a higher LTV band, so it’s worth preparing and having evidence ready if you need to challenge the figure.

What it is (and why lenders do it)

When you remortgage, the lender is lending against your home as security. They need to know what it would likely sell for to assess risk and set LTV-based pricing.

The valuation is primarily for the lender, not a full condition report for you. Even a “physical valuation” can be brief. If you want reassurance about the property condition, that is usually a separate survey decision.

Valuation types (and typical costs)

Automated valuation (AVM)

No visit. Uses data models and recent sales. Often fast and sometimes “free” as part of a product.

Desktop valuation

A surveyor reviews data and photos remotely. May be used for straightforward properties.

Physical valuation

A visit to confirm basics, size, and marketability. Can take longer due to appointments and reporting.

Costs vary by lender and product. Some deals include a free valuation incentive. If you pay, the fee can depend on property value, complexity, and loan size. The key point is that a “free valuation” is a perk, not a guarantee you will avoid all related costs.

What affects the valuation outcome
  • Recent comparable sales: similar homes sold nearby are a major signal.
  • Property type: flats, ex-local authority, unique builds can trigger more caution.
  • Lease terms: short leases can reduce value and lender appetite.
  • Condition and marketability: major issues may affect valuer confidence.
  • Evidence quality: clear improvement records can help your case if challenged.

Pitfalls to avoid

Valuation prep checklist

  • Gather evidence of recent improvements (invoices, guarantees, building control sign-off if relevant).
  • List key upgrades and dates (boiler, windows, roof, kitchen/bathroom refurb).
  • Find recent comparable sold prices (same street / similar property type).
  • Ensure access is easy (loft hatch, meters, any shared entrances).
  • Tidy key rooms and remove obvious clutter (helps photos and first impressions).
  • If leasehold, have lease length and service charge info ready.

FAQs

Most lenders need some form of valuation, but it might be automated (no visit). Whether you get a physical inspection depends on the property and the lender’s risk checks.

Automated or desktop valuations can be quick. Physical valuations depend on appointment availability and how fast the report is returned. Allow at least several working days in many cases.

Sometimes the lender includes it as a “free valuation” incentive. Other times you pay a valuation fee, especially for larger loans or more complex properties.

A lower valuation can increase your LTV and reduce deal choice. You may challenge it with evidence, switch lender, reduce borrowing, or wait and re-apply later.

No. A lender’s valuation is mainly for the lender’s risk. A homebuyer survey is for you and is usually more detailed.