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  • FIRST POST
    • Asp252017
    • By Asp252017 9th Jan 18, 1:05 PM
    • 2Posts
    • 0Thanks
    Asp252017
    Staircasing- my valuation is lower than Bankís valuation
    • #1
    • 9th Jan 18, 1:05 PM
    Staircasing- my valuation is lower than Bankís valuation 9th Jan 18 at 1:05 PM
    Hi All,

    Currently in process of buying 100% share of shared ownership property. The valuation I have got and the same I have given to the housing accociation is 25k lower than lending bankís valuation.

    My question is will the bank lend me on the basis of my valuation or their valuation.

    Thanks
Page 1
    • Crashy Time
    • By Crashy Time 9th Jan 18, 3:11 PM
    • 5,377 Posts
    • 2,236 Thanks
    Crashy Time
    • #2
    • 9th Jan 18, 3:11 PM
    • #2
    • 9th Jan 18, 3:11 PM
    The question is, how much debt do you want?
    • eddddy
    • By eddddy 9th Jan 18, 3:12 PM
    • 5,655 Posts
    • 5,348 Thanks
    eddddy
    • #3
    • 9th Jan 18, 3:12 PM
    • #3
    • 9th Jan 18, 3:12 PM
    A mortgage product's 'Loan To Value' limit is based on the lower of the banks valuation and the price you actually pay.

    So if you are paying less (pro-rata) than the bank's valuation - it will be what you are paying that counts.
    • Asp252017
    • By Asp252017 9th Jan 18, 3:29 PM
    • 2 Posts
    • 0 Thanks
    Asp252017
    • #4
    • 9th Jan 18, 3:29 PM
    • #4
    • 9th Jan 18, 3:29 PM
    Thanks- basically, my mortgage broker is asking extra money in order to get bank to consider my valuation.( does this happens)
    I would like use my valuation as I would be borrowing less and that’s mean paying less to housing Association to buy the remaining shares.
    • glentoran99
    • By glentoran99 9th Jan 18, 3:33 PM
    • 4,996 Posts
    • 4,010 Thanks
    glentoran99
    • #5
    • 9th Jan 18, 3:33 PM
    • #5
    • 9th Jan 18, 3:33 PM
    Thanks- basically, my mortgage broker is asking extra money in order to get bank to consider my valuation.( does this happens)
    I would like use my valuation as I would be borrowing less and thatís mean paying less to housing Association to buy the remaining shares.
    Originally posted by Asp252017


    That doesn't sound right, The bank really doesn't care what your valuation is, all they care is they are happy to lend the amount of money you have asked for on what the value the property as.
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