House we are buying downvalued. What are our options

[cluelessfirsttimebuyers]

Was on Rightmove for offers over 200k, they had numerous offers from 200-215k. We offered 210k.

Lender has downvalued by 15k meaning we are that much short. The vendors onward purchase is ready and they want to move ASAP, like in the next few months.

What are our options here? Does renegotiating usually work or is it likely we will be walking away?

thank you

You won’t know until you either speak to sellers or the Estate Agent. I know this happens all the time at the moment, do you have any extra funds to cover the difference, I doubt the sellers would reduce £15,000, but may accept half this if you are both ready to exchange.