Hopefully the title says it. We've offered on a house that needs a lot of cosmetic work, but located in a very popular street in the area. The asking price was unprecedented high to start with, 100K more than a similar house in May. In fact it's asking for only 5K less than the amazing extended house with loft conversion in same desirable location we missed out on few months ago.
I'm struggling to imagine that mortgage lenders would go with our offer value (if accepted) that is close to asking price. The estate agent said, banks never knock values on family houses but sometimes on flats. But you know...estate agents!
So what's the common experience? (fww, the house is not totally at the top of our budget, fortunately, but even so!)
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How common is it for mortgage lenders to knock back value in London property hotspots?
16 replies
hyperspacebug · 15/02/2014 21:56
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