We recently brought a flat in London for £223,000. However the surveyor devalued it to £210,000 and put a retainer of £10,000 for some work that needed doing on the roof.
The bank lent us £179,000 at 5.29% with a £900 booking fee (5 years fixed). The problem is the figure was based on a 10% deposit. We have actually put down either 19.7% down if the true value is £223,000 or 14.8% at the surveyors value of £210,000
Either way the initial figures were all based on a flat at £223,000 with a 10% deposit, do we have a case to challenge it. I think it was miss sold as the deposit was greater than they initially based calculations on.
Any advice would be great.
Clive.
The bank lent us £179,000 at 5.29% with a £900 booking fee (5 years fixed). The problem is the figure was based on a 10% deposit. We have actually put down either 19.7% down if the true value is £223,000 or 14.8% at the surveyors value of £210,000
Either way the initial figures were all based on a flat at £223,000 with a 10% deposit, do we have a case to challenge it. I think it was miss sold as the deposit was greater than they initially based calculations on.
Any advice would be great.
Clive.