Help with Mortage Valuation please

maddie67

Bootsox wrote: »

Maddie,

Just curious but what are Santander insisting on in terms of a mechanism for paying back the capital of the loan, is it some form of endowment policy or a repayment mortgage?

Otherwise yours is not a new problem. In summary, there are only a few solutions:

1) Negotiate a discount off the builder.
2) Put in the extra capital yourself to make up the shortfall
3) Appeal on the valuation
4) Try a different mortgage provider
5) Walk away

My favourite would be 1, because there will always be a bit more you can squeeze out of the builder and, if not, 5. I think the leasehold/freehold might be a bit of a red herring, could it really be worth £20k?

Hi Bootsox, its by way of a repayment mortgage.

No, there is no way the freehold is worth 20k, but the house next door which is the same as ours is leasehold and has been valued higher than ours. Theoretically I would have thought ours being freehold should have been higher than the leasehold.

Turnbull2000

http://www.housepricecrash.co.uk/forum/index.php?showtopic=150902&view=findpost&p=2706978

Hello Deeplurker

I think that was a very fair assumption. It's pretty much a fact that a number of moderate bulls and neithers quietly had their posting and PM privileges removed without warning, killing any real discussion on HPC and allowing it to descend into a cabal of delusion and self-agreement. Check out my own posting history if you wish, and tell me what was worthy of a ban. It seems once the tragically paranoid Bruce Banner puts you in his sig for daring to suggest that house prices may not go the way you want, you're history.

Also, check out this thread...

http://www.creditcrunch.co.uk/forum/index.php?showtopic=2969&st=0&p=29450&fromsearch=1&#entry29450

But be warned, your own posts may be deleted once the HPC mods latch onto this discussion. It's a shame HPC has been ruined in this way.

Turnbull2000

Aww, banned completely now. Not that it makes any difference like :rotfl:

You are not allowed to visit this forum.

nearlynew

Turnbull2000 wrote: »

Aww, banned completely now. Not that it makes any difference like :rotfl:

good

perhaps you'll end your obssession now and shut up about it

Turnbull2000

nearlynew wrote: »

good

perhaps you'll end your obssession now and shut up about it

Why the obsession with HPC 'rejects'?

Doctor_Gloom

Turnbull2000 wrote: »

On the contrary, I think it's been a very good thing. I doubt I could possibly make a rational financial judgement if I'd stuck with HPC. .

Good for you. But if you're so not bothered about being banned by housepricecrash.co.uk then why do you, Hamish and all the other rejects keep going on about it all the time? It doesn't add up.

Doctor_Gloom

Turnbull2000 wrote: »

Why the obsession with HPC 'rejects'?

No obsession on this side. But you and your fellow rejects persist in clogging up discussions on MSE with your bilious rantings against another website that most people here have never even heard of.

Turnbull2000

Doctor_Gloom wrote: »

No obsession on this side. But you and your fellow rejects persist in clogging up discussions on MSE with your bilious rantings against another website that most people here have never even heard of.

That's because people who seek out advice on MSE rightly expect fair and balanced advice. No different from a person seeking advice on property investment, only to be directed towards Singing Pig.

And my post is neither bilious nor a rant. It's the truth. And one what you and nearlynew seem somewhat uncomfortable with. Like I said, your ilk is just as 'obsessed'. You're like a cult, and I don't wish to see poor advice handed out on this forum.

Doctor_Gloom

No-one on MSE mentions housepricecrash.co.uk until and your fellow obsessives bring the subject up. Get over it or get some counselling.

pararct

Turnbull2000 wrote: »

That's because people who seek out advice on MSE rightly expect fair and balanced advice. No different from a person seeking advice on property investment, only to be directed towards Singing Pig.

And my post is neither bilious nor a rant. It's the truth. And one what you and nearlynew seem somewhat uncomfortable with. Like I said, your ilk is just as 'obsessed'. You're like a cult, and I don't wish to see poor advice handed out on this forum.

From an independent viewpoint who is to say what is poor advice and what is not?

Advise me.

I have around £100k squirrelled away and an earning potential of around £40 - £45k per year. I am single and already have a house which I own outright.

A. Should I fill my boots now and get out into the market and buy a house or.

B. Sit back and see how the economy and market perform once the Governments cuts get underway.

Tough one isn't it!!