If your mortgage balance stays the same but your property value rises, the percentage you are borrowing reduces.

For example, if your Beverley home was originally valued at £200,000 and you borrowed £180,000, your loan-to-value would have been 90%.

If the property is now worth £240,000 and your mortgage balance has reduced to £170,000, your LTV would drop to just over 70%.

This shift could move you into a lower LTV band, where interest rates are often more competitive.

Even a relatively modest increase in property value can make a noticeable difference to the rates available.

Do You Need a Valuation?

When you remortgage, the new lender will usually carry out a valuation of your property.

In many cases, this is done remotely using property data rather than through a physical inspection.

The valuation confirms whether the increased value is supported by current market conditions in Beverley.

If the valuation matches or exceeds expectations, you may qualify for better rates.

If it comes in lower than anticipated, your options may differ slightly, though there may still be improvements compared to your original mortgage position.

Can You Borrow More If Your Property Has Increased in Value?

An increase in property value may also allow you to release equity.

Equity is the difference between your property’s value and your outstanding mortgage balance.

If that gap has widened, you may be able to borrow additional funds, subject to affordability checks.

Some look to release equity for home improvements, consolidating debt, or supporting other financial plans.

Any additional borrowing will be assessed carefully to ensure repayments remain affordable.

What If Your Fixed Rate Has Not Ended?

If you are still within a fixed rate period, early repayment charges may apply if you remortgage before the deal ends.

In some situations, it may still be worthwhile to review your options, particularly if the increase in property value significantly improves your loan-to-value position.

The cost of any early repayment charges would need to be weighed against the potential savings from a new rate.

Planning the timing of your remortgage carefully helps avoid unnecessary costs.

Should You Wait or Act Now?

The right time to remortgage depends on several factors, including your current interest rate, how much your property has increased in value, and whether your deal is approaching expiry.

Most lenders allow you to secure a new mortgage offer up to six months before your current deal ends. Reviewing your position early ensures you are not automatically moved onto a higher standard variable rate.

As a mortgage broker in Beverley, we compare product transfer options with your existing lender alongside full remortgage options across the wider market, ensuring you understand the difference in cost and flexibility.

Date Last Edited: March 2, 2026