We have an opportunity to buy a house at a good price (£200k), the offer has been accepted and it not gone to market.
It was valued by quite a few estate agents at £220k, when applying for a mortgage can I use the 220k as a LTV figure (this will bump be down to a much cheaper %) or do i have to use the purchase price?
The condition of the property, is clean and tidy and has been well looked after but it does need updating. Houses in this area in this condition sell for between £220k - £240k.
Or do I just stick with the 200k value and get it re-valued in 2 years?
ta
Dave
It was valued by quite a few estate agents at £220k, when applying for a mortgage can I use the 220k as a LTV figure (this will bump be down to a much cheaper %) or do i have to use the purchase price?
The condition of the property, is clean and tidy and has been well looked after but it does need updating. Houses in this area in this condition sell for between £220k - £240k.
Or do I just stick with the 200k value and get it re-valued in 2 years?
ta
Dave