We've just had our flat valued at below our expectation... and I've only got myself to blame. Our flat was getting interest at the level we set it at, however we found somewhere we wanted to buy which required as to be "immediately proceedable" so we decided to flip the flat into a let to buy mortgage. But... for the week before we applied for the LTB we massively dropped our asking price to see if we could get a quick sale. Our flat then generated a load more viewings, but nothing that would have moved quickly, and we had to remove it from the market in order to get the LTB mortgage approved.
It seems as if the mortgage company's surveyor has potentially seen an old weblink for our flat online and valued it at the massive discount we temporarily set it at. It's true value is most likely somewhere between the two different asking prices, which was the level we indicated in the mortgage application.
It means I've got to find yet more cash to get this one over the line...
It seems as if the mortgage company's surveyor has potentially seen an old weblink for our flat online and valued it at the massive discount we temporarily set it at. It's true value is most likely somewhere between the two different asking prices, which was the level we indicated in the mortgage application.
It means I've got to find yet more cash to get this one over the line...