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Mortgage offer-wrong amount listed..
animalgirl
Posts: 30 Forumite
Hi MSEers,
Hoping for a bit of advice, we had a flat under offer and mortgage set up for £210k but the purchase fell through. Our mortgage was portable so are using it for our current purchase on a property for £213k. The loan amount is still the same (we're upping our deposit by £3k). We notified our broker of this and a valuation survey was instructed. We've just received the new offer of mortgage however the amount hasn't changed, on all the paperwork the mortgage company list the purchase as £210k, not £213k. At this stage we can only assume the broker 'forgot' to tell the bank of the change in purchase price..
Does anyone know if this will mean we will need to instruct, and pay, for yet another valuation survey?
Thanks for any help or advice
Hoping for a bit of advice, we had a flat under offer and mortgage set up for £210k but the purchase fell through. Our mortgage was portable so are using it for our current purchase on a property for £213k. The loan amount is still the same (we're upping our deposit by £3k). We notified our broker of this and a valuation survey was instructed. We've just received the new offer of mortgage however the amount hasn't changed, on all the paperwork the mortgage company list the purchase as £210k, not £213k. At this stage we can only assume the broker 'forgot' to tell the bank of the change in purchase price..
Does anyone know if this will mean we will need to instruct, and pay, for yet another valuation survey?
Thanks for any help or advice
0
Comments
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Try calling your broker and/or the lender to get the error corrected??0
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No, there won't be a problem as you are paying the 3 grand anyway. Just give the extra to your solicitor and as long as the new valuation shows ay 210k the bank are covered.0
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No, there won't be a problem as you are paying the 3 grand anyway. Just give the extra to your solicitor and as long as the new valuation shows ay 210k the bank are covered.
I agree. it just won't be worthwhile wasting time getting revised offers etc.RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0
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