Effect on mortgage when offer reduced

TheJP

As others said your LTV shouldn't be an issue if you have to request a new offer which wouldn't take long. The key part is whatever comes out of your surveys and checks balances with what the surveyors value the house. It may need a re-wire but the house is prices accordingly. Many FTBs read into every detail of a survey (its hard not to) and expect the seller to foot the bill when in reality every house needs work its just dependent on whether the house reflects the price with this in mind. A lot of work is personable, some will want it done and some can live with it.

Spiderroo

fifilottie said:

These comments are really useful, thank you 

Newsgroup monkey..I really appreciate your comment. I am a FTB so all is a learning curve. house is in a great location and we feel lucky to get the price we have. I would much prefer to work out the possible further expenses to do off my own back. Being in fixed term contracts and getting mortgage offer means we are thankful for this and don't want to jeopardize any further questions. We can afford it but proving it all has been a process, we will be paying next to nothing more on what rent we pay and we have never struggled with it.

So three bedrooms semi detached bungalow..how much for a rewire? Want to not disrupt offer and try and do off my own back. That's fine though will need to get a loan to do it. All a bit scary x sometimes I feel I know what I am doing and other times not x

We've been quoted £4000 for our rewire which a three bed semi detached house in the NW. Our core work bill comes to about £18k, without any fixtures and fittings (need a new kitchen, bathroom, flooring, etc). 

TheJP

Spiderroo said:

fifilottie said:

These comments are really useful, thank you 

Newsgroup monkey..I really appreciate your comment. I am a FTB so all is a learning curve. house is in a great location and we feel lucky to get the price we have. I would much prefer to work out the possible further expenses to do off my own back. Being in fixed term contracts and getting mortgage offer means we are thankful for this and don't want to jeopardize any further questions. We can afford it but proving it all has been a process, we will be paying next to nothing more on what rent we pay and we have never struggled with it.

So three bedrooms semi detached bungalow..how much for a rewire? Want to not disrupt offer and try and do off my own back. That's fine though will need to get a loan to do it. All a bit scary x sometimes I feel I know what I am doing and other times not x

We've been quoted £4000 for our rewire which a three bed semi detached house in the NW. Our core work bill comes to about £18k, without any fixtures and fittings (need a new kitchen, bathroom, flooring, etc). 

How does that weigh up against valuation?