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Who knows what the reason is but if it was unmortgageable 25k off isn't going to make a difference unless you're a cash buyer.
Most non-traditional construction types are mortgageable, there’s a specific list of defective construction types that aren’t, but it’s usually tougher, you may not get such a high loan to value or the rate might be higher, so if the previous buyer was maxing their borrowing or if the surveyor down-valued it by £25k it may have been enough to stop them getting the mortgage they needed.
Hefty-
so if the previous buyer was maxing their borrowing or if the surveyor down-valued it by £25k it may have been enough to stop them getting the mortgage they needed.
Those are the scenarios that I would have assumed, my point was more that an overnight drop in price doesn't have to mean there's something disastrous wrong with the house. But @ExTra seems to have the right approach to it, far more than when we bought our place, I was fucking clueless.
Buying property in this country is such a shit show.
Gewürzt
Who knows what the reason is but if it was unmortgageable 25k off isn't going to make a difference unless you're a cash buyer. Maybe they've reduced it because they've not had interest since they lost a buyer and interest rates went up?
It'd be pretty stupid for the estate agent to go through the whole process knowing you won't be able to get a mortgage but nothing surprises me with those bunch of useless cunts.