House valuation slightly under

Madeinireland101

Hi,
My daughter offered £320,000 on a house and it’s come back with a valuation (not a physical valuation) of £316,500.
Any advice on what next steps should be? She has a very large deposit so I’m not anticipating an issue with the Mortgage offer as I seem to remember them saying it would still stick if the house was valued over 313,000.
Is it worth going back to the seller with this to seek a reduction or is that being too petty?
It’s a nice house, in a good location on a very nice small estate and has a larger than average south west facing garden - I mention this as I’m not sure if a non physical valuation would take account of that.
Thanks...

K_S

@madeinireland101 What's the loan size and the LTV band? If the reduced valuation doesn't change the LTV band of the product that she has applied for, from a mortgage point of view this downvaluation shouldn't make any difference. That's probably what you refer by the 313k threshold.

Madeinireland101

Thanks - Her mortgage is £235k and therefore I don’t think this would change the LTV amount which still remains under 75%.
i suppose I’m wondering if we should seek a seller reduction or not 😀