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There are mortgages and there are mortgages.
A 95% mortgage at 5x earnings from someone on commission is a much bigger ask than a 20% mortgage at 2x earnings from an unsackable person like a nurse.
And then there is an £8k difference on a £1m sale and an £8k difference on a £100k sale.
You also want to look at why they want to buy, in an iffy market you want the most committed buyer more than the highest bidder.
Simple really.
Hefty
Alright kiddos. Had a bit of a mare with our flat - flogged it a few weeks ago and the guy pulled out two weeks later, which has put us in a sticky situation with our purchase. Anyway it's on for the nonce, and we've relisted our flat, and got two offers.
One is £2k over the minimum we'd accept but it's a cash buyer. One is £10k over the minimum we'd accept but it's a mortgaged buyer.
I've never sold to a cash buyer before. Does it de-risk things or speed them up significantly? Bearing in mind this is a leasehold property so it'll be a long process either way.