What would you do?

Sheep

So... To cut a long story short we have applied for a mortgage with 2 lenders (long and boring story).

The house we are buying is a new build up for £146950

Today i have found the valuations back as....

Lender 1 - £146950
Lender 2 - £135000

Both lenders are similar rates ect but im worried that we may be overpaying for the house if we buy for the £146960.

Whats everyones thoughts?

Sheep

lee111s

What do YOU think the house is worth? That's the price you should be paying for it.


If you were happy with the price before the valuation then you shoulnd't really have any worries.


Bizzare that you've applied to two lenders and had two surveys done though...

libf

As above. If you want the house and lender 1 thinks it's worth what the builders want, then go for it. Or if you think you can haggle the builder down, then try that.

Just bare in mind that new builds tend to drop in value initially too, so if you're likely to need to sell in the near future then make sure you use the valuers from lender 1 again.