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First Time Buyer - valuation decreased!!
lrlrip
Posts: 590 Forumite
My DD put a deposit down on a new build flat which is due to be ready in seven weeks.
Cost of flat £154750. Valuation went ahead and came in at £155000. Mortgage approved with TSB. The broker had however said they would look a changing lenders if DD did more overtime and could prove it was guaranteed (which it is) as she really need a bigger mortgage.
Fast forward a couple of months to a few weeks ago. The broker is now looking a getting DD a mortgage with The Nationwide. Valuation was carried out a few days ago and DD has just had a phone call to say the valuation is now £150000, down £5000.
The builders have in the last month taken down the last remaining flats to £149000. My DD has already signed the missives but the broker did say she could try them to take the flat down to valuation price.
I am presuming the changes of this are nil, or is it worth asking or is it too late now that everything is signed?
Any advice gratefully received.
Cost of flat £154750. Valuation went ahead and came in at £155000. Mortgage approved with TSB. The broker had however said they would look a changing lenders if DD did more overtime and could prove it was guaranteed (which it is) as she really need a bigger mortgage.
Fast forward a couple of months to a few weeks ago. The broker is now looking a getting DD a mortgage with The Nationwide. Valuation was carried out a few days ago and DD has just had a phone call to say the valuation is now £150000, down £5000.
The builders have in the last month taken down the last remaining flats to £149000. My DD has already signed the missives but the broker did say she could try them to take the flat down to valuation price.
I am presuming the changes of this are nil, or is it worth asking or is it too late now that everything is signed?
Any advice gratefully received.
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