Mortgage approved subject to valuation

SameOldRoundabout

Yay! After 3 weeks of messing round chasing paperwork we’ve been told our mortgage is approved subject to valuation. Are we pretty much home and dry? They’d have to downvalue the house by 30k to effect us now so I’m hoping that that’s it and we’re on the verge of getting through the mortgage process!

MovingForwards

Who is the lender?

Thrugelmir

Are you prepared to pay more for the property than it's worth?

Remember the mortgage is based on the property valuation not the amount you apply for.

Retired_Mortgage_Adviser

Yeah, looks like it!

Hope the val goes as expected

SameOldRoundabout wrote: »

Yay! After 3 weeks of messing round chasing paperwork we’ve been told our mortgage is approved subject to valuation. Are we pretty much home and dry? They’d have to downvalue the house by 30k to effect us now so I’m hoping that that’s it and we’re on the verge of getting through the mortgage process!

SameOldRoundabout

Nationwide. I’m not sure why they did it backwards for us as i think they usually book valuation on day 1? I’m not majorly concerned about a downvaluation, I think we’re paying what it’s worth rather than what the seller wanted, given other prices in the area.

jimbo2108

Hi,
I was quite lucky with mine I got from offer to acceptance of the mortgage in 1 week! No broker all done myself. Saw the house on a Wednesday, applied for the mortgage on the Friday, valuation on the Monday, got the offer through on the Wednesday, and moved in 2months.
Think I'm a rare case and very lucky, however I am quite clued up and also pestered the sol's near on every day!