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The Guardian - AU
The Guardian - AU
Lifestyle
Kat George

I want my property revalued as part of my mortgage renegotiation. Is my bank obliged to do this?

Kat George Australia
A model house viewed through a magnifying glass<br>A house under a microscope
When you refinance your mortgage, it essentially ends the first mortgage, and begins a new one, which means your bank should want to conduct a valuation of your property. Photograph: Caspar Benson/Getty Images/fStop

After reading about renegotiating home loans in a news article, I decided to see about getting a lower rate from our bank.

When I contacted my bank, it agreed to lower my rate a little (although the advertised rate for new customers is lower still). However, it would not acknowledge my questions regarding having my home revalued.

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