Owning your own home

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sohi

Isn't there an issue with valuations coming in lower that what people offered and they can't get the
mortgage they hoped? Everybody got excited after the first lockdown but maybe that has cooled now.

https://www.independent.co.uk/money/house-prices-mortgage-latest-stamp-duty-holiday-b1179046.html

A survey of 1,000 buyers whose transactions spanned the first six months of the Covid crisis, found 46 per cent have had their prospective property down valued by their chosen mortgage lender after a sale and price had been agreed with the homeowner.

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Tenderloin in reply to @sohi

Anecdotally I have heard of thus happening a lot - it would seem to be to be a tactic for banks not wanting to lend(?)

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