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Mortgage retention
kieranrichard
Posts: 4 Newbie
Good evening all, I’ve had an offer accepted on a property where I live in Scotland, the offer that’s been accepted is £42500 under the valuation, house valued at 110 and 115 with essential repairs carried out, they’ve noted some brickwork needing downe and rendering to outside. I’ve got quotes for both summing up to £6500c I have no issue getting these done eventually but the mortgage adviser has now said they have passed it to the valued to comment on and that a retention for the cost of this will more than likely be in the mortgage offer.
So basically my question is, if I’ve got it this much under the market value, is it likely they will impose the retention?
Thank you for listening to my long winded post!
So basically my question is, if I’ve got it this much under the market value, is it likely they will impose the retention?
Thank you for listening to my long winded post!
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