-
Foxtons will tell you to get more money from Halifax, because as far as they're concerned there's nothing wrong with the way they've valued the property - remember: they're not working for you.
As an alternative, they'll suggest that you use their mortgage broker who will miraculously be able to find you the extra 40 large.
handtightenonly-
So much this, or alternatively they will suggest you try a different lender as yours are unreasonable. Failing that they may try to discredit the valuer and make accusations of them being unprofessional, in order for you to try again with someone else.
-
Spent most of this arvo reading articles about this Loan to Value Shortfall. Pulling out buzz words I can use and concepts for my argument.
Luckily got the valuation through the post today so managed to send this off to Foxtons who were right on the ball. 2 mins later I get a call from the manager of the Agent I am dealing with. Prefer to deal with manager anyway, he get's things done.He was nice, understood where I was coming from. I said I do want the place, as I do, but not for +£40K on top of valuation. That's just a bad investment!
Asked whether vendor would laugh in my face, he's like...we can see what we can do.Spoke about the valuation and possibly contesting it. I probably could as a last resort.
No mention of their broker, who I've already spoken to and they said Halifax to me also anyway.Need my independent surveyor to come back to me with what he thinks, on Thurs.
Figure out my position then...fucksticks
mustardbeak
mands
thanks and thanks to others for comments also. Learning lots here about buying a home in the UK!
As far as I am aware, they did go into property and value it - appointment was made for access.
On the same day, I've had a full independent survey done and so whilst that was not a valuation, I'll ask him what his professional opinion is. Arm myself with some facts.
Like the option break-down.
1 viable
3 would take some hella negotiation (40k!), and from what mustardbeak said about Halifax - difficult. I spoke to Foxtons and they were angling for this.
4 I think I am stuck with Halifax. And even if I got a different figure on the place, it would be a small movement.
2 - yep that's probably best.