Mortgage in Scotland - Home Report valuation

anewloginapparently

Hi all,

We're buying a flat in Scotland for £125,000 with a home report value of £120,000 and a deposit of £23,000 so a mortgage of £102,000.

My question is the home report comes in several parts - the single survery, EPC and property questionnaire. 

The single survey itself contains details of the upkeep of the property, but then a seperate mortgage valuation report. 

My question is, do the mortgage company just go by the mortgage valuation report, or do they require the entire home report?

My reason for asking is that the mortgage valuation for our potential property states £120,000 and does not list any essential repairs (or anything out of the ordinary) - but the single survey itself has 1 x 3 (for damp one wall) and a few x 2's, as you'd expect for a 120 year old ground floor tenement I guess. 

The vendor is arranging the damp work to be completed on the wall, I'm just wondering if the mortgage company (Halifax) are likely to just take into account the mortgage valuation report? 

K_S

@anewloginapparently Can't say that I do a huge number of mortgages that are both Halifax+Scottish, but from the ones that I have, Halifax will take the lower of the home-report valuation and the agreed purchase price.