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FTB: Mortgage Lender Value Higher than Purchase Price.
KS1TEACHER
Posts: 1 Newbie
Hi guys, first post on this site.
We have just had an offer of 97000 accepted (FTB) on a house that was up for 120000. The Mortgage lender has then valued the house at 115000. We have a 10% deposit in place but with this higher valuation can we now re-negotiate the interest rate as the house represents less of a risk for the lender?
Cheers guys
We have just had an offer of 97000 accepted (FTB) on a house that was up for 120000. The Mortgage lender has then valued the house at 115000. We have a 10% deposit in place but with this higher valuation can we now re-negotiate the interest rate as the house represents less of a risk for the lender?
Cheers guys
0
Comments
-
No.
The mortgage is based on the valuation or purchase price. WHICHEVER IS LOWER.0
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