Mortgage Rate Rises

[grudas]

Maybe that is because houses are not selling now or are actually selling for less. They all have models etc for how they see the future panning out. After all they are valuing your house as a minimum over the course of that mortgage. Just because houses have recently sold for that price doesn't mean they are going to be worth that in a few years time.

Both you and I have had massively low ball valuations and are in different parts of the country so they are most likely expecting something or it is very risky.

My friend bought his two bed house in 2007 and was in negative equity for nearly ten years! It has happened before and can happen again.

Yeah you may be on to something, it’s just frustrating in general.

Currently nationwide values it at £1k more than we paid in their app. So I’m crossing everything and hoping that’s what they actually keep when March arrives.

If we went on svr we’d be paying £1000 more a month. It’s unaffordable.

 

[EvilRob]

Yeah you may be on to something, it’s just frustrating in general.

Currently nationwide values it at £1k more than we paid in their app. So I’m crossing everything and hoping that’s what they actually keep when March arrives.

If we went on svr we’d be paying £1000 more a month. It’s unaffordable.

Why don't you just get the broker to apply with a different lender and therefore a different valuer?

 

[grudas]

Why don't you just get the broker to apply with a different lender and therefore a different valuer?

Exactly what we’ll do in March. Get an idea of what current lender nationwide offers and go from there.