Spent most of this arvo reading articles about this Loan to Value Shortfall. Pulling out buzz words I can use and concepts for my argument.
Luckily got the valuation through the post today so managed to send this off to Foxtons who were right on the ball. 2 mins later I get a call from the manager of the Agent I am dealing with. Prefer to deal with manager anyway, he get's things done.
He was nice, understood where I was coming from. I said I do want the place, as I do, but not for +£40K on top of valuation. That's just a bad investment!
Asked whether vendor would laugh in my face, he's like...we can see what we can do.
Spoke about the valuation and possibly contesting it. I probably could as a last resort.
No mention of their broker, who I've already spoken to and they said Halifax to me also anyway.
Need my independent surveyor to come back to me with what he thinks, on Thurs.
Figure out my position then...