when I was ’sold’ the mortgage, I was given the example that if my house were to sell for less than the original valuation, I would repay nothing, however should it SELL for more, I would repay 75% of the increase in value.

the key word here is SELL…ie. is the repayment based on the new valuation OR on what the property sells for on the open market. I understood that any repayment would be based on the ultimate selling price, rather than the valuation.

I now realise that it could be on the valuation rather than the amount raised to stop unscrupulous pensioners selling to family members at a reduced rate, but I would llike clarification on this as a ‘valluation’ is only an opinion, whereas a ’sale’ is a fact!