Mortgage down valuation- now need to pay more deposit ???

amybenjaminandemilysmum

I think we are near to resolving this confusion.

My husband has spoken with the MA who admits he has calculated things incorrectly and that we would only owe £300.

I STILL think the MA has got things wrong. IF we purchase at £130,000 I would need £300 less in my deposit as it would be £19,500 not £19,800.

glentoran99

I would change mortgage advisors, he doesn't seem the brightest

kingstreet

Using the absolute figures for the correct scenario is a lot easier than using the differences between one scenario and another.

Tell your advisor to change the purchase price to £130,000 and the mortgage amount to £110,500. The Halifax system works out the deposit itself.

Then all you have to do is hand the right money to your solicitor.