Throughout life you’ll see that sometimes it’s the little things can make all the difference. When you’ve got a difficult exam, it could be an extra half hour of revision that earns you the point that turns a fail into a pass. If you’re going for a job interview, it might be buying a new suit that gives you the extra boost in confidence to get the job. When our athletes were winning medals last year, it might have been because of those 10 minutes they decided to add to their training schedule each day.
If the margins are tight, it’s that extra bit of effort that can pull you through. When it comes to your finances, the best example of this comes when you are remortgaging your property. For many people, you need to get your property valued as high as you can, so that you can get the best mortgage deal available to you. The thing to remember is that valuing property is an art, not a science. There is no definite answer, which gives us the opportunity to make that extra bit of effort that could make the difference.
The plan starts even before you begin to apply for your mortgage. If there are any big jobs around the house that you have been putting off, try and get them done in time and give yourself that advantage.
When you are applying for a remortgage, make sure you are realistic and think about the effects of both over and under valuing your property. The first of the two things to remember is that you will never see a surveyor estimate a higher figure than you have stated, so don’t be too pessimistic. The second is not to be too optimistic. For example, if you think your house is worth somewhere in the region of £100,000 to £110,000, you might be able to obtain a valuation at the higher end of this range. But if you try your luck and say it is worth £150,000, the valuer has nothing to work off and may be inclined to go below even the £100,000 mark. I would recommend seeking financial advice at this point to make sure you don’t shoot yourself in the foot either way.
The next step is when the valuer calls you to arrange an appointment, because it shouldn’t just be your calendar you check, it’s also the weather forecast. Although it shouldn’t be a factor, we are all human, and the fact is things look nicer, people feel happier and more optimistic when it’s a nice day.
Make sure your house is clean, tidy and well presented. The same principles apply when you are expecting potential buyers to look at your property.
When they arrive, be polite, offer them a cup of tea and make them feel welcome. Make sure not to bother them too much though, a pet hate valuers often have is being followed around the house when they don’t want you to.
Kieron Bassett Financial Services has two Independent Financial Advisers who specialise in mortgages and investment advice. Contact us on (01524) 832057, via e-mail, info@kieronbassett.com, or visit www.kieronbassett.com.
Jason Hinde DipPFS
24th June 2013
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