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Hsbc mortgage offer

irtgreg
irtgreg Posts: 4 Newbie
First Post
in Mortgages & endowments
Just wondering if any mortgage broker could advise. Agreed house purchase price £395k, applied for hsbc mortgage 70% LTV, loan amount 276.5k
got my offer from Hsbc today. The mortgage illustration stated value of the property assumed to prepare information sheet as £389k. Amount of loan to be granted £276.5k
I am a bit confused. So HSBC valuation is lower than agreed price, but they are still lending me the amount requested. Do I not have to renegotiate with seller or increase my deposit?

Comments

  • MovingForwards
    MovingForwards Posts: 17,178 Forumite
    10,000 Posts Seventh Anniversary Name Dropper Photogenic
    Either option, it's your decision whether to negotiate for £6k or pay the extra within your deposit.
    Mortgage started 2020, aiming to clear 31/12/2029.
  • irtgreg
    irtgreg Posts: 4 Newbie
    First Post
    MovingForwards said:
    Either option, it's your decision whether to negotiate for £6k or pay the extra within your deposit.
    They are lending me the full amount requested at 70% LTV though?
  • 917700
    917700 Posts: 186 Forumite
    100 Posts Name Dropper
    irtgreg said:
    MovingForwards said:
    Either option, it's your decision whether to negotiate for £6k or pay the extra within your deposit.
    They are lending me the full amount requested at 70% LTV though?
    I guess your LTV is 71% on the offer. There should be no difference on the interest rate.
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