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Awaiting update on offer - how high to go?!
robynlouise
Posts: 43 Forumite
Factoring in our 10% deposit and the figure in our AIP, our budget is 185. Put an offer in on a house of 181.5 and waiting to hear back - I'm reluctant to go any higher incase the full mortgage application results in a slight amendment to the figure they will lend! What would you do? Dare to offer higher if required and hope for the best? Or leave it? If I offer higher and the lenders won't meet what they said in their AIP, does that affect my credit rating as by then they would've done the 'hard' search I believe?
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Comments
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Just to check, does your "budget" include paying all the fees/costs of buying a property and moving home, and leaving you sensible contingency for work you find needs doing after you move in?
If you can genuinely afford 185 if offered the full mortgage, then as long as all the information you provided for the AIP was correct and comprehensive, the mortgage offer shouldn't be for a reduced amount unless the valuation comes in lower than the price you agree.0 -
Thanks for your reply. Yes, we have budgeted 4K for fees. Good to know it shouldn't change. Fingers crossed this offer is accepted and we don't need to go higher0
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What is the asking price of the house?0
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Did you make it clear it was a one-time offer? Most people expect to negotiate. If they do come back with a counter-offer (which they prob will), maybe just say it's really the top of your budget but you could perhaps add one more thousand. You don't need to go to £185k if you feel it's risky.
As above, what's it up for?
Jx2024 wins: *must start comping again!*0 -
190. We know the vendors have found a house they like. Offer rejected -gone in at 184 and told them it's our absolute ceiling.0
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