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The problem for me is that if the seller relisted, it would go above the asking price in minutes.
True. I do wonder if the current situation in Europe will put the brakes on somewhat, but that's going to have to some lag, if it happens at all.
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I'm sure you've considered this, but when I bought my place in a very toppy market 2012-ish my valuation was £10k under the price agreed. I could just about scrape together the amount to cover the shortfall (increased deposit by £10k) and when it came to new mortgage time after 2 years the valuation had caught up and exceeded the price paid by a decent amount. If you want to move quickly and can find the funds from somewhere that would be the easiest solution...
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The problem for me is that if the seller relisted, it would go above the asking price in minutes. The valuers have got it wrong. I spoke to HSBC and they won't reassess it, so I will look at other lenders.
Just had a look online and it looks like HSBC challenge tolerance is 20%, which is mad at London prices. I work in the property dept of NBS and our process is pretty fair in comparison IMO
Have you asked the vendors for a potential reduction?
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Howard
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pifko
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The problem for me is that if the seller relisted, it would go above the asking price in minutes. The valuers have got it wrong. I spoke to HSBC and they won't reassess it, so I will look at other lenders.