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Mortgage valuation under plus damp retention

1 reply

HoneyIshrunktheBiscuit · 07/08/2017 15:14

Feel a bit fed up. Lender has valued 5k under what we offered which we sort of expected as we had offered 15k over guide price. Retention of 2k has also been out on because of high moisture levels and they want a damp specialist. Think this may be because of a small amount of water in the basement - it's a Victorian property so this is to be expected.

Not sure what to do from here. Hoping the vendor will drop the price by 5k as they are after a quick sale - have no idea where to even get started on the damp issue.

OP posts:
bilbodog · 07/08/2017 17:12

Have you had a good look at the property to see if the damp is being caused by anything obvious such as outside ground levels too high, down pipes leaking, any cracks in rendering or such like? What sort of survey took place? You could try and speak to the surveyor and find out what they think. Be wary of getting in damp companies who will just suggest chemical injections and removal and replenishing of plaster. Its not always necessary, particularly in old houses. Do you know a good builder who would come and check it out for you?

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