I have received approval for a mortgage in principle & I am in receipt of a mortgage loan offer letter. The mortgage is for €85,000. In the conditions precedent section of the letter it states that the purchase price of the property cannot value less than €145,000. That would be around the range I am looking at but why would they be that restrictive? I mean if I see a property I like at say €139,000, I would not be able to go for it, I would have to wait for one at €145,000 or above. What is the reason for this?