We are in exactly the same situation, Foxtons valued us high, we agree offer and then the buyers mortgage company say it's worth £40k less. We were also told this valuation then sets a precedent for future buyers.
In our case we have dropped the agreed value £5k and the buyer is swallowing the rest, if your buyers have their parents helping this might still be a viable outcome.
I wonder if the government has leaned on mortgage lenders to low ball valuations to slow the market?
@WjPrince
We are in exactly the same situation, Foxtons valued us high, we agree offer and then the buyers mortgage company say it's worth £40k less. We were also told this valuation then sets a precedent for future buyers.
In our case we have dropped the agreed value £5k and the buyer is swallowing the rest, if your buyers have their parents helping this might still be a viable outcome.
I wonder if the government has leaned on mortgage lenders to low ball valuations to slow the market?