What to do if your home is down valued, from negotiating a new price to increasing your deposit ⬇️
“With supply of new homes onto the market still well below demand, buyers are also willing to pay more for a property because of the lack of similar alternatives.”
Countryside cited an application made to one large lender where the agreed purchase price was £675,000 with at least ten offers for the property – according to the estate agents – but the valuation was returned at £620,000. “But valuers may have taken a more sombre view and applied down valuations, scuppering mortgage applications reliant on meeting loan-to-value threshold requirements.”
It may be worth going to a specialist mortgage broker who can offer ‘whole of market’ access to both mainstream and specialist mortgage lenders.“Bridging the gap between your agreed price and the lender’s valuation by increasing the deposit is one option, but buyers could also negotiate a higher loan-to-value mortgage, although this would result in a higher interest rate.”Some lenders do allow appeals on the valuation decision.
“We bought our house in Manchester eight years ago. It was a new build and it was on the market for £278,950. We put down a deposit of five per cent and used the Government Help to Buy scheme to raise the 20 per cent deposit to secure it.”
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Rapha Brevet Bib ShortsReview: Rapha Brevet Bib Shorts - really well made, with an excellent pad for long rides, but check the sizing cycling rapha
Weiterlesen »
Leicestershire eco-homes rejection to be challengedDevelopers are appealing after their plans for 36 environmentally-friendly homes were turned down.
Weiterlesen »
Heinz products off Tesco shelves after pricing disputeThe beans, sauce and soup-maker is pausing supply to the UK's largest supermarket in a row over price rises.
Weiterlesen »
COVID-19: People in France 'should wear masks again on public transport' as new coronavirus wave hits nationThe increase in coronavirus cases is being fuelled by new variants, with 17,601 new infections over the past 24 hours - the highest Monday figure since 18 April.
Weiterlesen »
Fears village could 'become a town' amid thousands of homes planThe closure of the site was previously pushed back to 2026
Weiterlesen »
Review: Monster Hunter Rise: Sunbreak is an excellent expansion to one of the series’ best games | VGCReview: Monster Hunter Rise: Sunbreak is an excellent expansion to one of the series’ best games. ⭐⭐⭐⭐
Weiterlesen »