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HSBC down valued the house :(
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jonfed89
Posts: 10 Forumite
Hello everyone
Looking for some wise words of advice here. I had my offer accepted on the house at £93,500 I got them down from £95k (originally they listed it at £100k but reduced it over time).
HSBC approved my mortgage subject to valuation at 90% LTV fixed for 5 years, they survey was done and they've come back at a value of £85k....we really liked the house a lot but a) I don't have the extra to pitch in and b) I'd rather not be landed with negative equity as a FTB.
Any thoughts? I've called the estate agents and mentioned this that I'm reducing down to £85k but I can't see the vendor accepting this. What a way to start the weekend!
Looking for some wise words of advice here. I had my offer accepted on the house at £93,500 I got them down from £95k (originally they listed it at £100k but reduced it over time).
HSBC approved my mortgage subject to valuation at 90% LTV fixed for 5 years, they survey was done and they've come back at a value of £85k....we really liked the house a lot but a) I don't have the extra to pitch in and b) I'd rather not be landed with negative equity as a FTB.
Any thoughts? I've called the estate agents and mentioned this that I'm reducing down to £85k but I can't see the vendor accepting this. What a way to start the weekend!
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