Home Report Valuation - Scotland

[eek]

Your accountant/mortgage adviser should have explained all this to you.

[jamesbrown]

It's not really imaginary though, is it.

Yeah, it kinda is, for precisely the reason you mention. According to Gidiot, if we Brexit, it's going to be worth 85 pence. If we Bremain, it might be worth 85 squillion.

By all means, remortgage in 6 months, but the answer to your original question is: no.

[MrMarkyMark]

Your accountant/mortgage adviser should have explained all this to you.

No need, lol

[hydraulicwave]

Thanks for your helpful explanations.

[WTFH]

Thanks for your helpful explanations.

Hope you learned from the time and effort put in.

[tomtomagain]

You could buy it for whatever you want....

What an excellent post.

Another, more accurate, word for "Release" is "Borrow". You don't "Release" equity. You borrow money secured against your property.

The word "Release" is just a weasel-word used by the finance industry to make you think you are richer than you really are.

[scooterscot]

Hi,
If I buy a house for £85k that has a home report valuation of £100k. Does the lender view this as having £15k equity in the property + deposit amount?
Thank you,

They are unrelated. The mortgage evaluation report is what matters. Which is something the bank's own surveyor's will conduct.

[Emma Power Mortgages]

Hi,
If I buy a house for £85k that has a home report valuation of £100k. Does the lender view this as having £15k equity in the property + deposit amount?
Thank you,

No, they take the purchase price as the value of the property unless a relative is selling you a property at a discounted price