Change of value of property - await mortgage

AliceBanned

Hi

I was going to buy a property in Feb and decided to pull out as I had not had the chance to fully check out the market in the area. After three months I decided my heart was still set on the first property, and it was under offer at one point. Then i saw it was still online so I phoned the EA - they told me it was under offer and had gone for a higher price than I originally would have paid. I was willing to bid as it is a very desirable flat and I thought not at all overpriced originally. I just got cold feet as I am a FTB buying on my own.

So a week later I see it is still online, I phone and am told they are still accepting bids. I have bid £2.5k more than I originally would have paid, but am happy to pay that as I want this place. So I go back to the lender, who are willing to use the same valuation report they had before, but I need to re-organise the mortgage and start again. So I have AIP and now await confirmation pending the valuation. I phoned the surveyor and she knew nothing about this, and asked me to make sure i let the lender know this and ask them what they want her to do. She has already agreed the previous value, and it is now £2.4k higher, three months later. If she doesn't agree this, I am in trouble as the lender said I can't add that onto the mortgage. Does anyone know what usually happens in the situation? The lender is going to contact the surveyor on Monday and ask them whether they agree the higher value. It has taken over a week to get this far as without knowing it the lender had not taken any action to get the value agreed for the second time! I'm anxious that if the surveyor sticks at the original value I can't go ahead, though it is a very desirable area and surely it's possible for some change in value within a certain range? Thanks.

AliceBanned

PS lender is Halifax, now just seen another thread which at least explains the delays.