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Does my solicitor have to disclose this?
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Thrugelmir wrote: »I doubt your mortgage broker is qualified in law nor knows the CML handbook inside out either.
No, but you'd hope the lender themselves do!
We don't know how re-negotiation will affect the offer precisely yet. We have some room to reduce the purchase price without reducing what we borrow before we hit the LTV threshold. We're on approx. 83% so wouldn't be able to go all the way down to the surveyors valuation without going over 85% (which is what our deal is based on) but we go down £5k if that's what is necessary and reduce our deposit to cover the cost of works.0 -
I'm surprised your separate survey included a valuation. When I paid for a survey the surveyor deliberately didn't value the property because the lender's surveyor was already doing this. Now I can see what, as a second lower valuation could have caused issues.
In this case, he did it to give us a basis for re-negotiation. It was a homebuyers report, not a full building survey, if that makes any difference.0 -
TheCyclingProgrammer wrote: »In this case, he did it to give us a basis for re-negotiation. It was a homebuyers report, not a full building survey, if that makes any difference.
No, mine was a homebuyers equivalent. However it was called something different as it didn't include a valuation.Don't listen to me, I'm no expert!0 -
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TheCyclingProgrammer wrote: »Was yours done through the lender?
No, as I said I paid for a separate survey and the lender was doing the valuation. I didn't want to upgrade the lender's valuation to a homebuyers survey.Don't listen to me, I'm no expert!0 -
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