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Survey undervalued first home by £15,000
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That they ever did is a national disgrace really.davidmcn said:
Lenders are not lending anybody 100% of property values at the moment, so whatever they valued it at must have been above £74k.FTB_Help said:
From my understanding your lender is happy to lend you £74k (you have £15k deposit?) If this is the case then maybe your lender valued the property around £74k too which is why they were happy to lend you £74k, i think this is how lenders valuation work, i.e they will lend you the amount they think its worth (valued at £74k so they lend you £74k), i might be wrong, so anyone with more info please correct me.Alicefisk1235 said:I understand that my mortgage lender thinks it’s valued correctly however as mentioned above this survey was a lot more detailed. They would be valuing it this much for no reason surely?0
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