refused advance

amnblog

myright wrote: »

Oh I see. But would they still do a valuation before making a decision

Lending is based on:


Status: Can you afford the lending


Serviceability: Are you likely to pay


Security: Value and saleability of the property


So, yes - there will be some assessment of the property. Although it need not mean a physical visit by a valuer as it is often done by computer.

Caz3121

myright wrote: »

Whats a realistic drawdown percentage?

you could have a property worth £500k and a £10k salary so a % of the property value is irrelevant. The maximum will be based on income andaffordability and the maximum the lender is prepared to lend based on that, which will be a different % of value for most people