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Valuation might ruin LTV
pollyanna24
Posts: 4,391 Forumite
The valuation has been done (got sent an e-mail to say the report has been received and I will learn of its outcome in a couple of days).
I have a feeling that the mortgage company won't value the house (I am buying my brother out) as much as what the estate agent told me.
This will then put me in a higher LTV, and as the interest rates for Nationwide have just gone up, will I have to take the new interest rate on the higher LTV (even though the rate I thought I had secured was for 82 days) or the old interest rate, but on the higher LTV?
I have a feeling that the mortgage company won't value the house (I am buying my brother out) as much as what the estate agent told me.
This will then put me in a higher LTV, and as the interest rates for Nationwide have just gone up, will I have to take the new interest rate on the higher LTV (even though the rate I thought I had secured was for 82 days) or the old interest rate, but on the higher LTV?
Pink Sproglettes born 2008 and 2010
Mortgages (End 2017) - £180,235.03
(End 2021) - £131,215.25 DID IT!!!
(End 2022) - Target £116,213.81
Mortgages (End 2017) - £180,235.03
(End 2021) - £131,215.25 DID IT!!!
(End 2022) - Target £116,213.81
0
Comments
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I would think the second case, the same interest rate but on the higher LTV as your offer still stands but based on the evaluation.
I'm sure someone more knowledgable will be along soon.finally tea total but in still in (more) debt (Oct 25 CC £1800, loan £6453, mortgage £59,924/158,000)0 -
You'll have to select a product that is currently available.0
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