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Probably a silly question- mortgage offer
Comments
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They must have done a desktop valuation then.
I got my mortgage illustration the day of my application and the offer a few weeks later. Perhaps your lender does it differently.1 -
Yes and perhaps porting makes it a bit easier. That's put my mind at rest,thanks for your help0
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Wording on that offer is identical to the HSBC offer wording I recently received.
I thought it made sense but my conveyancer didn't and has actually written to them for clarification.
My mortgage is also part ported and part additional borrowing.
My offer reads....
value assumed....£472k
Minimum value.....£446k.
House was marketed at £495k and is being bought for £456k so I've no idea where the assumed value came from but thought it might be their valuation.0 -
Nearly 40k price cut, well done!RS2OOO said:Wording on that offer is identical to the HSBC offer wording I recently received.
I thought it made sense but my conveyancer didn't and has actually written to them for clarification.
My mortgage is also part ported and part additional borrowing.
My offer reads....
value assumed....£472k
Minimum value.....£446k.
House was marketed at £495k and is being bought for £456k so I've no idea where the assumed value came from but thought it might be their valuation.1 -
Thank you Crashy.Crashy_Time said:
Nearly 40k price cut, well done!RS2OOO said:Wording on that offer is identical to the HSBC offer wording I recently received.
I thought it made sense but my conveyancer didn't and has actually written to them for clarification.
My mortgage is also part ported and part additional borrowing.
My offer reads....
value assumed....£472k
Minimum value.....£446k.
House was marketed at £495k and is being bought for £456k so I've no idea where the assumed value came from but thought it might be their valuation.
It was never worth the asking price in a million years.
In fact the ridiculous asking price probably put people off as we believe we were the first to view after 2 months on the market. Offered what we thought it was worth, and got pushed up by an extra £1000. Happy with that. Had they marketed at a more reasonable £465k to begin with they would likely have achieved close to that.0 -
Yep, common story unfortunately.0
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