My reading of your situation as explained above is that you are falsely increasing the contents valuation, apparently with your solicitor's connivance, in order to dishonestly reduce your stamp duty liability. This is illegal.
John, certainly if you draw down a lesser amount the repayments should be less. But have you noted that Interest rates are likely to increase and as well property prices could drop further. Frankly and to be honest with you, if you want to drop your financial outlay then pull out of the deal (if possible).
Your idea of compromising in havcing the valuation increased will not wash anymore. Those days are gone and to include contents in a valuation is madness.
I understand your anxiety to purchase the house, but stand back and weigh up the entire situation. As for your mortgage you had better check that in this New Year that your Bank is ending according to the past equations.
But if you have contracts signed there is very little you might or can do. The Bank pay a valuer to undertake a job .. Yours is just one of many he might do this year, and he is unlikely to doctor the figures for you. And if he does he would be completely mad. The vendor is probably dropping the sale price to save CGT on the sale. If the contents are worth €5k then give him €5k -- no more. If the house is worth €235k then this is what you pay him.(or less)
... since initial viewing to the day I accompanied surveyor around propery (3 months later) contents were removed from the property.
This says it all about the vendor. Your solicitor will have his work cut out for him. Let us know as to how you get on.
Vendor is relocating abroad so there must be some efforts on his side at reducing his tax liability. There may be but I want to try and ensure that it won't be at my expense and that I won't be a party to his scheme/plan/efforts.
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You had better contact your solicitor, as the Bank might not fund the purchase at the price level indicated.
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