Home report value versus mortgage valuation

Susan_Boe

Good morning all, 

Me again! Things are moving forward (I hope) and there will soon be a mortgage valuation done on the property I am looking to buy. 

The home report (dated late february) states a value of 105k. My 107k offer was accepted (it was marketed offers over 105k). 
Will the mortgage valuation likely go off the home report, or will they go off their own estimations? I'm assuming it isn't likely that I will get it valued at 107k, but that would be the dream! 

Any of your experiences would be greatly appreciated. If they value it at 107k I can hold 2k back from my deposit without affecting LTV and use it to furnish the place. I have no furniture 🤣

MovingForwards

As long as the surveyor is a company on the lenders panel, they will accept the HR.

If its valued at £105k (I though you said £110k previously?) That's what the lender will value it at.  You will have to put up the extra £2k.

Buy second hand furniture, look on FB market place, gumtree etc as lots of stuff is also given away.

I had to get a mortgage valuation done on my purchase as the surveyor company wasn't on my lenders panel list, thankfully the surveyor thought the flat was the value of what I offered.