Allowance for works and mortgage offer

[solenneguest]

Hi everyone
Our buyer is asking for some money off the price we agreed to sell for a couple of jobs that need doing. Will we need to get a new mortgage offer or has anyone heard of providing an allowance e for works? Thanks

Is the work something major that was highlighted in the survey or is it just things that the buyer would like to do?

How much are they asking for and are you happy to drop the price? Personally if the buyers knew about these jobs when price was agreed then I would tell them to do one.

Why would you need a new mortgage offer? Would lowering your price mean that you can't afford your next house?

I'd be inclined to refuse to lower the price unless these "works" are something important which the buyer would not have been able to foresee on viewing and inspecting the property.

Both solicitors and mortgage lender would need to be advised of the new price and the contract changed accordingly, i.e. delays.

As Purple said above, why would you need a new mortgage offer? Unless you want to borrow more to purchase your onward property, I would be seriously inclined not to do this.