Discount after valuation when not downvalued

[purplelila2]

I was wondering if anyone could shed any light on this as I'm so confused.

If a property has been valued at 500,000 by a bank, and we are selling our property for £400,000 at the last minute our buyer requests a discount of say £10,000 and we were were looking to pass this onto our onward purchase how would that work if the valuations had already been done on both properties which have been valued the property at the asking price?

If the buyer wants to buy ours at £390,000 and our onward purchase agrees to £490,000 will our mortgage offer reduce and how would loan to values be affected if the deposit amount remained the same ?

It sounds like you are saying that you expect your vendor to accept £10k less even though you aren’t prepared to? The issue is your buyer, and I certainly wouldn’t expect to be able to pass that down the chain.

I’m sort of assuming that had your buyer offered you an extra £10k for your house, you wouldn’t have expected to have to give that to your vendor. What you offered your vendor is one thing. What you accept from your buyers is unrelated.

@Holidayinginmymind Holidayinginmymind
No vendor as such its a builder and they said yes they would accept. Question is regarding Loan to Value and the mortgage not whether we are able to pass on the 10k

Oh! That is so good! Very lucky you. Does it take you into a different loan to value category? Hopefully not, and then maybe it is just an admin thing of swapping numbers. I don’t have a clue how easy (or quick) that would be. Hopefully it is both.