Hi All,
I'm interested to understand the strategy used by the majority (and minority for that matter) regarding valuations and the frequency of them. I've got a property letting at the moment, valued at £80,000, however the valuation was completed by a guy my mortgage advisor described as "ludicrously and famously stingy" and since then we've made some improvements, such as upgrading the 22 year old heating with a modern combi and upgrading the interior, largely with cosmetic changes.
Obviously a re-valuation is going to be something I'll undertake in a couple of years to identify if I can withdraw a few thousand in equity to help speed along the next purchase, but I am just wondering what the standard is in this area? Do people have a strategy in place for continually reviewing their valuations and adjusting their investment level accordingly (for equity release or adjustment on the LTV for the mortgage)?
Keen to hear some discussion...
Jamie