COVID-19 Related Mortgage Questions - Common Questions Answered Here

NDTNewbie

Morning all,
We’re in the process of going through buying a property for 240k. The asking price was 255k and we’re putting down 20%, so a mortgage of 192k. 

The mortgage company are going to instruct the valuation of the property but I’m getting itchy feet with the uncertainty of the housing market. 

With everything that is happening and all the rumours flying around that property prices could drop 20% should I hold off doing the valuation for a few months to see what will happen to the housing market?
Will the mortgage company factor in a potential drop in property prices?
Any information would be greatly appreciated. 

Brummyboy71

I am in the middle of remortgaging, and in the same process taking some equity out of the property.  During the stage where we provide salary slips. My partners payslip say "furlough" for a portion of her pay ( about 1/3). This has made the bank Clydesdale recoil and say that with a new policy they wont accept the payslip if it states 'furlough' on any part of the slip.  My partners job is at a well know airline, but is secure and we can show a letter from the company.  My job is secure as well. We at a loss as we don't want to miss the stamp duty offer.