Mortgage Valuation Down Valued, Funding Optiona

Wafc03

Thrugelmir said:

Given a physical valuation is at your expense that's somewhat surprising. 

That’s what I thought as well. If I’m happy to pay I couldn’t understand why they wouldn’t consider it as an option.

Wafc03

MWT said:

Wafc03 said:

I’ve got a call with my original mortgage advisor tomorrow to understand more details of what the options are.

See what your advisor suggests, but can you identify a small number of similar properties that have sold recently close to your offer price?

Be strict when considering what is a similar property and you are looking for actual sales, not what people are asking for...

@MWT yeah have been quite a few recent sales completed, one of which we’d originally agreed to buy only for our buyers buyer to pull out late in the process...we know that sold for £445k (we were planning to spend at least 50k on improvements). Others we’ve seen and decided against making offers on have sold for more money than our £510k price. There are two houses on the next street, both within 100 meters of the house, both of which we’ve viewed and not offered on because they were small and needed lots of work doing....both are SSTC for 450k and £475k.
The house we’re trying to get is both bigger, both the house and gardens, and is finished to a much higher standard.