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Valuation come back lower HSBC
Comments
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chillicheesedog said:Oh no! Hope you get a new price agreed with the seller. Seemingly lots of downvaluation going on at the moment 😕0
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chillicheesedog said:Oh no! Hope you get a new price agreed with the seller. Seemingly lots of downvaluation going on at the moment 😕0
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chillicheesedog said:Oh no! Hope you get a new price agreed with the seller. Seemingly lots of downvaluation going on at the moment 😕0
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Process90 said:I can also join this club.
Our valuation has come up £30k short of asking price from HSBC today and HSBC want us to amend LTV accordingly. I nearly fell over when my broker told me. Personally, I think this drop reflects a 10% drop in house prices.
Waiting for EA to get back to us as we've asked if the vendor is willing to meet in the middle. Probably, not... but we're certainly not going to pay what we originally offered now.0 -
HSBC are one of the only lenders currently offering 10% deposits. Their strategy may be to instruct the pickiest valuers so they protect themselves in case property values fall.They have always been one of the pickiest lenders out there anyway. Even though Ive banked with HSBC for almost 40 years I avoid their products1
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The valuation is what they are prepared to lend on. It is taking a longer outlook and factoring in a potential drop in value.
That's the downside of having a 90% loan I guess. A seller may take the view that another buyer, who has a larger deposit and different lender, may well value it differently.0 -
blue_max_3 said:The valuation is what they are prepared to lend on. It is taking a longer outlook and factoring in a potential drop in value.
That's the downside of having a 90% loan I guess. A seller may take the view that another buyer, who has a larger deposit and different lender, may well value it differently.0 -
Densol said:HSBC are one of the only lenders currently offering 10% deposits. Their strategy may be to instruct the pickiest valuers so they protect themselves in case property values fall.They have always been one of the pickiest lenders out there anyway. Even though Ive banked with HSBC for almost 40 years I avoid their products0
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blue_max_3 said:The valuation is what they are prepared to lend on. It is taking a longer outlook and factoring in a potential drop in value.
That's the downside of having a 90% loan I guess. A seller may take the view that another buyer, who has a larger deposit and different lender, may well value it differently.0 -
Just had the phone call...... and the vendor has accepted the new valuation and we are good to go!!!! Im so happy!!!1
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