You are reading a single comment by @christianSpaceman and its replies.
Click here to read the full conversation.
London Fixed Gear and Single-Speed is a community of predominantly fixed gear and single-speed cyclists in and around London, UK.
This site is supported exclusively by donations. Consider donating a small amount regularly.
christianSpaceman
deleted
Lender's valuation is in agreement.
As it see it, at the moment it isn't my problem it's their's.
So I sit tight and see how they react to the news that the bank will only lend to them on a valuation £40k below their offer.
But that said, I still don't get it.
They have a £300k deposit from the bank of Mum and Dad and are borrowing the rest from the bank, a relatively small mortgage and a HELLA good LTV.
The bank's lending an amount that is easily covered by the value of the freehold alone, so who fucking cares if it has a garden or not.
I genuinely thought that borrowing such a small amount on such a low LTV would mean the valuer would just drive past to make sure it existed!