How to handle a best and final offer scenario

chasingfreedom

Hannimal said:

It sounds like you could do with speaking with a mortgage advisor to make sure you actually understand what your budget is,.

We've already spoken to a mortgage advisor but unfortunately couldn't use them for the AIP we got (it was not available to brokers) so he's not involved in this situation. We know what our budget is and if the full amount could be included in the mortgage there is no issue. Our only issue is that we have cash set aside for our deposit, fees, moving costs and hadn't expected to have to go above asking price (but seems its common at the moment). The only issue will be if the valuation comes in under the price we've offered and then we have to find an additional 5k cash that we weren't expecting to need.

chasingfreedom

chasingfreedom said:

Hannimal said:

It sounds like you could do with speaking with a mortgage advisor to make sure you actually understand what your budget is,.

We've already spoken to a mortgage advisor but unfortunately couldn't use them for the AIP we got (it was not available to brokers) so he's not involved in this situation. We know what our budget is and if the full amount could be included in the mortgage there is no issue. Our only issue is that we have cash set aside for our deposit, fees, moving costs and hadn't expected to have to go above asking price (but seems its common at the moment). The only issue will be if the valuation comes in under the price we've offered and then we have to find an additional 5k cash that we weren't expecting to need.

Also, we are well below our maximum in terms of affordability. We can spend up to 292k with the AIP we have but are going for something cheaper so we don't overstretch.