Mortgage question

pacman1989

Not sure if this is the right place to post but i just have a few questions about a mortgage. I have been approved in principle for a mortgage of up to 180000 . Im currently interested in a house that has a guide price of 190 but feel that a offer of 180 would secure this property. How do the banks view this situation as i know when i apply for the mortgage i must give the details of the home i wish to purchase and if i put in a price of 190 my application will be rejected ? Should i just make the offer on the property and if thats accepted then go to the banks with the knowledge that 180 has been accepted?
Also what mortgage type would people think would be the best in the current economy. I was thinking 3 years fixed but am not quite sure.
I have 24k saved at the minute and have been paying 900p/m rent for the last year.
Thanks in advance

wench

The 180K is how much they would lend you, not how much the property can be bought for.
If you agree a sale at 180K, the mortgage amount would be approx 160K, well under your limit.

pacman1989

sorry i worded that wrong the max price of the house we can get is 180 so max mortgage is 162

wench

That should still be fine.
If you get your offer of 180 accepted, the bank don't care/ask what the asking was.