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Bank valuation - anyone recently had a reduced mortgage as a result?

  • 24-04-2018 9:52am
    #1
    AGrownUpTheySay
    Registered Users Posts: 20 ✭


    Hi all,

    we are sale agreed, refundable deposit down, mortgage approval in principle.

    A colleague just mentioned that (back in 2011), they were in similar position but bank valuation knocked $20k off their mortgage offer due to work needing doing on the house.

    The place we are looking at has some work (e.g. there is a downstairs bathroom that was clearly put in for an old person and doesn't have full walls :eek: ) but nothing we feel is unlivable and we know at least one other bidder was willing to come close to the price we are paying.

    Is it common/likely that they will knock money off the mortgage?
    Anyone had recent experience?
    Tagged:


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