Valuation lower than sale price

AliceBanned

Thanks dumpallhere!

Unfortunately I don't feel I can celebrate (wish I could as I really want to live there) as I only have AIP and lender has now asked for proof of deposit - the final bit of which I won't have until early August - not far off but not sure how they will react! I've sent them my bank statements - mortgage adviser said they are with the underwriter and it may take a few days.

It's scarey when you know they are really scrutinising everything, especially at the moment as any slight hint of a problem may make them change their mind. I know I can afford it but it's whether they will agree. Maybe I'm just being paranoid, as they offered me a mortgage 3 months ago. I guess it's just anxiety that after all this it could still come to nothing..

witchy1066

everything crossed for you AliceBanned ,
you got there eventually, well done you for sticking with it

keep us in the loop

xxx

AliceBanned

Thanks witchy 1066! I'll let you know how it goes.:)

WellKnownSid

AliceBanned wrote: »

It's scarey when you know they are really scrutinising everything, especially at the moment as any slight hint of a problem may make them change their mind. I know I can afford it but it's whether they will agree. Maybe I'm just being paranoid, as they offered me a mortgage 3 months ago. I guess it's just anxiety that after all this it could still come to nothing..

They're still asking for paperwork, so they're still thinking about it and it's not a 'no' yet.

AliceBanned

Thanks. To be honest I'm sick of my debts and sick of money problems hanging over me. I always have this feeling that something terrible is going to happen.

I checked my Experian file today and I'm so annoyed because Littlewoods recorded a late payment - for £4! I know it's automatic and they will probably remove it (I changed my current account so the direct debit got lost somewhere). I'm so stupid changing at such a crucial time, but First Direct offered me a good deal and I was with Halifax paying a lot for the overdraft. I don't have a huge amount of debt but saving for a deposit, paying off debt and trying to buy a flat all at once - I feel like it's not going to happen somehow. Think I'm just preparing myself for the worst.

If they did refuse, it would be upsetting as I'm nearly there and my situation is improving every month.

AliceBanned

Good news today. :beer:
Halifax approved me for the mortgage.

Thank you all for your moral support - I really didn't believe it could happen so this thread really helped me keep going.:)

TrickyDicky101

Good luck I hope the buying process goes smoothly for you!

AliceBanned

Thanks. I have so much to do as I have to completely empty out my housing assoc flat! Glad to be moving to the right area for me - goodbye long commute..:)

AliceBanned

Good news! After all the goings-on about the sale price, we are nearly up to exchange of contracts, and the Housing Assoc (which owns the rest of the share) has come back and said the vendor can in no way charge above the valuation..this is against government regulations with a shared ownership property owned in part by a housing association. Saves me the £1000 after all.

fewcloudy

Great news!