We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
House undervalued by HSBC
Comments
-
http://www.housepricecrash.co.uk/forum/index.php?showtopic=84637&hl=
I know that this section can be harsh at times but that thread on HPC is cruel.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
The thread on HPC is spot on IMHO0
-
It's entirely inaccurate given this a remortgage not a purchase.0
-
That housepricecrash forum is a horrible place with people taking great glee in others' misfortune and/or lack of knowledge - AND slagging off MSE.
However, I really do think the OP has to go with the valuer on this occasion.
(IIRC, in the days when we had a mortgage, whenever we asked for a further advance, the lender always valued it less than what the 'open market' price said).(AKA HRH_MUngo)
Member #10 of £2 savers club
Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton0 -
Maybe a law compelling OPs to respond regardless?
Who would be the enforcers? - SWAT?0 -
I find it amusing that people slag off EAs for over-valuing a property. These same people haven't even seen the property or a valuation report on it.
At least the EAs are basing their valuation on a house visit.
I know it is in vogue to just keep slashing 10% of a valuation. So, why not £130K, £117K etc. Maybe the EAs had valued it properly, maybe not. I don't know and neither do those slagging off the EA.
Ok, my suspicion is also that the house is over-valued by the EAs but, like others who claim to be experts, I don't know. It is just a guess.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
I'd also read it as a remortgage so was slightly confused when ppl were saying 'walk away' and 'offer less'. Think this chap got a rough time with all the comments, as it wasnt as daft as some ppl thought.0
-
when ppl were saying 'walk away' and 'offer less'.
Guilty. I read it the wrong way. Trying to save the OP from a terrible fate.
Maybe he only wanted to MEW so he could clear off to another land with his stash?
I bet there are a few who will be doing/have done that.............certainly were in the last crash.0 -
Is that Laura from housepricecrash.co.uk?!
How very sceptical of you lol! Well I guess he could be doing that - he's got less to do a runner with in that case!
Was slightly confused by the OP as he said he paid fees then seemed surprised of the valuation - maybe he got a valuation from the EA's after the mortgage was agreed? Who knows? Just felt a bit sorry for him - a lot of people will be getting stung with house prices falling as they are.0 -
Fees - HSBC ask for arrangment fee upfront.
My guess would be he/she got some EAs around pre-application to get an idea of house value.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.9K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.1K Spending & Discounts
- 244.9K Work, Benefits & Business
- 600.4K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards