applying for mortgage

sarahmoore28

hi..i am applying for a mortgage and i am just interested to know if having your stamp duty paid for and white goods included in the house sale makes a difference to how the lender values your house.
any feedback welcome!

Ant.Evs

I don't think these things have any bearing on the how a lender values the property.

I'm curious now as to why you want to know? (sorry i am nosy lol)

BeenThroughItAll

sarahmoore28 wrote: »

hi..i am applying for a mortgage and i am just interested to know if having your stamp duty paid for and white goods included in the house sale makes a difference to how the lender values your house.
any feedback welcome!

Nope, white goods aren't worth diddly squat to a lender. SDLT being paid for you won't make a difference either to valuation.


Valuation's about bricks and mortar, not the structure of the deal. If white goods were fundamentally affecting the value of the property, do you think sellers/developers would offer them FOC???

Thrugelmir

Incentives are factored in when some mortgage lenders make offers. Developers these days declare the value of incentives.

sarahmoore28

we have been told that some lenders wont give us a mortgage if they think we have been 'given' to much.. we have had our stamp duty paid and white goods included but i am struggling to understand why this makes a difference to a mortgage offer

Tixy

Sounds like they may be viewing it as a quasi gifted deposit.

Do you have the minimum deposit the lenders would offer a mortgage at?

sarahmoore28

we are doing the help to buy scheme and have 5% deposite

CKhalvashi

sarahmoore28 wrote: »

we have been told that some lenders wont give us a mortgage if they think we have been 'given' to much.. we have had our stamp duty paid and white goods included but i am struggling to understand why this makes a difference to a mortgage offer

I've not seen it do so, however if you're being given 'too much', then it may make a lender doubtful.

CK

sarahmoore28

thankyou for your reply, it may well be the person who gave us this information may be trying to pressure us into sticking with them and not looking elsewhere for a mortgage

Tixy

Might be worth asking on the mortgages section of the forum sarah - there are a number of mortgage brokers regularly posting on there who may be able to help advise on if this is something they have seen before.

Thrugelmir

sarahmoore28 wrote: »

i am struggling to understand why this makes a difference to a mortgage offer

Simply put you are overpaying for the property. As the developer is immediately giving you your money back to pay the stamp duty.