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I Want To Pay More For My House Than I Have To ..

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In this case they are trying to value a new build property. Of course, new builds lose value as soon as you move in and they become second-hand, so from the bank's perspective, they should be more interested in the value that they could sell it for when repossessed rather than its value as a new property.

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In this case they are trying to value a new build property. Of course, new builds lose value as soon as you move in and they become second-hand, so from the bank's perspective, they should be more interested in the value that they could sell it for when repossessed rather than its value as a new property.

Sorry but wrong. A surveyor has to value as per the Red Book. Rebus sic stantibus (as it stands) not his job to assume trends. Valuation for mortgage purposes is different than other valuations (for insurance as an example). If he doesn't value as per the Red Book then he is open to being sued by either side in the event of negligence.

Tom MRICS

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Sorry but wrong. A surveyor has to value as per the Red Book. Rebus sic stantibus (as it stands) not his job to assume trends. Valuation for mortgage purposes is different than other valuations (for insurance as an example). If he doesn't value as per the Red Book then he is open to being sued by either side in the event of negligence.

Tom MRICS

Thanks for the correction. The bank can make up its own mind as to want it wants to lend against a new-build and should be offering lower lending multiples.

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I see the HPC ex-troll (Hamish McTavish) has rumbled this thread:

"This thread has been linked to from hpc....

http://www.housepricecrash.co.uk/for...owtopic=150894

So no wonder many of the replies have been distinctly unhelpful."

Edited by Sibley's Love Child

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I see the HPC ex-troll (Hamish McTavish) has rumbled this thread:

"This thread has been linked to from hpc....

http://www.housepricecrash.co.uk/for...owtopic=150894

So no wonder many of the replies have been distinctly unhelpful."

Sorry, the link does not work.

I thought you might have been referring to the splitter website - **** (that's ********. if the word is still automatically moderated out here like a rude word), so I went on there for the first time in ages, but the site address took me back here. I guess they have disappeared.

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the op from the thread

"oh my God! How dare they! I cant believe that someone has posted what they have on there and have the nerve to make out Im stupid!

Im not some idiot who wants to pay more for our house, why would you automatically asume the surveyor is right and the builder is the one who is expected to pay for his mistake?"

er....sweetie.....because it is what the surveyor is paid to do. The banks have a far better idea of what property is worth, what is coming and what a risk you are.

Pay the £330 for another valuation, in the scheme of things it is pennies.

If I were you though I would be using the valuation to get the price dropped by the builder. Show them the letter so they know you cant proceed. Why on earth would you not be using the report to get a reduction?

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I think people expect the price tag on a house to be the price.

I think all newbuilds should have a price ticket holder on the roof/wall, so all can see the current price.

The Valuation is the valuation...a valuation for mortgage purposes is one which the bank feel sthe property is worth in the event of a default.

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the op from the thread

"oh my God! How dare they! I cant believe that someone has posted what they have on there and have the nerve to make out Im stupid!

Im not some idiot who wants to pay more for our house, why would you automatically asume the surveyor is right and the builder is the one who is expected to pay for his mistake?"

er....sweetie.....because it is what the surveyor is paid to do. The banks have a far better idea of what property is worth, what is coming and what a risk you are.

Pay the £330 for another valuation, in the scheme of things it is pennies.

If I were you though I would be using the valuation to get the price dropped by the builder. Show them the letter so they know you cant proceed. Why on earth would you not be using the report to get a reduction?

er...darling...because the report is based on a leasehold, the property is freehold!

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Corrected for you.   B)

How rude! There is absolutey nothing wrong with my car, the finance does not run out for another few years, I will buy a new one then.

I would more likely be spending the money on an all inclusive holiday to Benidorm, obviously!

Please, DO NOT make comments like that when you do not know the first thing about me.

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How rude! There is absolutey nothing wrong with my car, the finance does not run out for another few years, I will buy a new one then.

I would more likely be spending the money on an all inclusive holiday to Benidorm, obviously!

Please, DO NOT make comments like that when you do not know the first thing about me.

  • Bull or Bear? Bear

.... :rolleyes:

Please, DO NOT make comments like that when you do not know the first thing about me.

Why should you care... surely you are too busy bidding up a life essential so the rest of us that are not obsessed by property are forced to spend more of our hard-earned lining banksters pockets <_<

Sling yer hook you fool

:angry:

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In this case they are trying to value a new build property. Of course, new builds lose value as soon as you move in and they become second-hand, so from the bank's perspective, they should be more interested in the value that they could sell it for when repossessed rather than its value as a new property.

susprisingly this just isn't true. In the house price book new build rabbit hutches easily kept up with if not surpassed the rest of the housing market. In a market down turn they git hit harder as these are usually more BTL type places and investment dries up.

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susprisingly this just isn't true. In the house price book new build rabbit hutches easily kept up with if not surpassed the rest of the housing market. In a market down turn they git hit harder as these are usually more BTL type places and investment dries up.

Not sure when you are refering to, but the last couple of years, New builds have had the "benefit" of 100% mortgages via home buy.

In the US, when they droppped the $8K tax break for borrowers, prices fell by guess how much....yes..$8K.

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er...darling...because the report is based on a leasehold, the property is freehold!

er...dearest... "but Santander refuse to take this into account as well, they say the difference is negligable."

isn't life a b*tch

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  • Bull or Bear? Bear

.... :rolleyes:

Why should you care... surely you are too busy bidding up a life essential so the rest of us that are not obsessed by property are forced to spend more of our hard-earned lining banksters pockets <_<

Sling yer hook you fool

:angry:

Im not obsessed by property - just trying to buy a family home. My OH and myself both work extremely hard, I wonder if you actually know what hard-earned is??? Is it so hard earned that you have to spend 80% of your life away from your family?

If it isnt, then please, shut the door on your way out!

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Im not obsessed by property - just trying to buy a family home. My OH and myself both work extremely hard, I wonder if you actually know what hard-earned is??? Is it so hard earned that you have to spend 80% of your life away from your family?

If it isnt, then please, shut the door on your way out!

you deserve it...you are entitled to it....go for it.

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Im not obsessed by property

Trying to pay more than you are told something is worth would go a long way to showing signs of obsession in most people's book surely....

just trying to buy a family home.

and it would be a whole lot easier for you and others if such a large percentage of the population hadn't lost their minds like you clearly have...

My OH and myself both work extremely hard, I wonder if you actually know what hard-earned is??? Is it so hard earned that you have to spend 80% of your life away from your family?

If it isnt, then please, shut the door on your way out!

Straw man...

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Im not obsessed by property - just trying to buy a family home. My OH and myself both work extremely hard, I wonder if you actually know what hard-earned is??? Is it so hard earned that you have to spend 80% of your life away from your family?

If it isnt, then please, shut the door on your way out!

Oh goody-its been simply ages since we had an irate woman venture this way!

You're not obsessed with property...yet you're prepared to spend 80% of your life away from your family so you can 'live the dream'?

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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