Anyones Mortgage fallen through?

[foodislife1]

We have offered on a house and are waiting for the mortgage application to go through. Just wondered if anyones mortgage application haas been rejected/fallen through given the current economic state we are in?

Or has anyone had the lender value the property lower than what was offered?

I think this ^ is becoming quite common atm..

Houses vastly overpriced and undervalued by mortgage lender.

My friend at work and her husband have just offered £325k on a house, offer accepted
They're in a rental (as they didn't want to loose their buyer and risk the chain collapsing ) and the house they are buying belongs to a couple downsizing who've already bought a bungalow and have been renovating it as a retirement property and are in it already so in theory there shouldn't be any problems.

They are getting a mortgage and had the survey last week and the surveyor has reported to the mortgage broker that he doesn't feel the house is worth £325k probably nearer £295k as it's dated and needs some modernisation.

The sellers won't take £295k and want £325k and said they'll "hold out fir a cash buyer or for things to change"

My friend is gutted as houses in that area don't come up very often so all a bit stressful.

We have a mortgage valuation next week so I’ll let you know!

We tried to buy another property a year ago and it was down valued by £25k. We switched lender and the valuation was then agreed, but we fell at the next hurdle when the survey brought up multiple problems so we pulled out. So the original mortgage valuation was correct really, but the house sold quickly at same price to someone else who must have been happy to pay it and take on a lot of work. I drive past it often and they are still having a lot of structural work done a year later.