petitverdot
Registered User
- Messages
- 17
Quick Question:
If one is applying for a new mortgage and purchasing a property for a price they know is lower than the property is worth (seller reduced price on certain conditions of waiting etc) then could the buyer get a <80% LTV from the very start of the mortgage. Or would they have to purchase the property, go Fixed or Variable, then apply for lower LTV later on?
I assume the bank valuation at the start would be sufficient evidence for the LTV rate proof. However will the banks chosen estate agent give an honest valuation given that they are in the banks pocket for regular custom.
PV
If one is applying for a new mortgage and purchasing a property for a price they know is lower than the property is worth (seller reduced price on certain conditions of waiting etc) then could the buyer get a <80% LTV from the very start of the mortgage. Or would they have to purchase the property, go Fixed or Variable, then apply for lower LTV later on?
I assume the bank valuation at the start would be sufficient evidence for the LTV rate proof. However will the banks chosen estate agent give an honest valuation given that they are in the banks pocket for regular custom.
PV