Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    stevie wonder
    Retention recommended - what does this mean?
    • #1
    • 15th Dec 09, 11:15 AM
    Retention recommended - what does this mean? 15th Dec 09 at 11:15 AM
    We have had an offer accepted on a house at 220, our mortgage is 165. The Property valuation has come back saying they recommend a retention of 10000 for essential repairs (roofing). The valuation for mortgage purposes says current condition is 220, after repairs 230. Insurace value is 294.

    I'm confused as to what this means for us - can anyone explain? I will speak to the bank but would like to go forearmed with info if possible.

    We have got a roofing contractor who is going to look at the work and then give us a quote.

    Thanks, in advance,
Page 1
Welcome to our new Forum!

Our aim's to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,907Posts Today

6,604Users online

Martin's Twitter