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Underwriting
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So according to my broker the product and underwriting is all done but still waiting for valuation. I don't mind waiting as long as I know everything is OK. Now onto the next worry.... What happens if the valuation comes back less than the agreed sale price?!0
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You can either make up the difference yourself, renegotiate the price or walk away. That's about itTotal Value of wins in 2009: £900 appox. 2010: £730Wins 2011: Carlisle Utd Tickets (twice!), Baby Food Hamper, Straighteners, Chugginton Toy1
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Your large deposit will be your saving grace. I'm in the almost exact same boat except with a high LTV - now they have finally agreed to do a desktop valuation despite it but I just found out my estate agent have taken 3 weeks to send the valuers the floorplans (even though they're WFH)! So the further this delays, the more dire the economic outlook is, the more I fear it could get taken away.
Grrrr. If this is the house for you, push, push, push your broker to chase and check yourself (that's how I found this out) - so that things can get a move on. If you really want to go ahead right now, the sooner the better.Credit card: £8,524.31 | Loan: £3,224.80 | Student Loan (Plan 1): £5,768.55 | Total: £17,517.66Debt-free target: 21-Mar-2027
Debt-free diary0 -
Unfortunately we are buying a new build so no chance of a desktop valuation. Probably a good job as it's got no roof!annetheman said:Your large deposit will be your saving grace. I'm in the almost exact same boat except with a high LTV - now they have finally agreed to do a desktop valuation despite it but I just found out my estate agent have taken 3 weeks to send the valuers the floorplans (even though they're WFH)! So the further this delays, the more dire the economic outlook is, the more I fear it could get taken away.
Grrrr. If this is the house for you, push, push, push your broker to chase and check yourself (that's how I found this out) - so that things can get a move on. If you really want to go ahead right now, the sooner the better.0 -
No rush then..........Confused789 said:
Unfortunately we are buying a new build so no chance of a desktop valuation. Probably a good job as it's got no roof!annetheman said:Your large deposit will be your saving grace. I'm in the almost exact same boat except with a high LTV - now they have finally agreed to do a desktop valuation despite it but I just found out my estate agent have taken 3 weeks to send the valuers the floorplans (even though they're WFH)! So the further this delays, the more dire the economic outlook is, the more I fear it could get taken away.
Grrrr. If this is the house for you, push, push, push your broker to chase and check yourself (that's how I found this out) - so that things can get a move on. If you really want to go ahead right now, the sooner the better.0
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