r/Glasgow Tools

Title
Author	Kolo_ToureHH
Comment	>if people want to invest over the value of the bricks and mortar, the mortgage shouldn’t cover that. The mortgage doesn't cover anything over the value of the home report. If I make an offer on a flat that's valued on the home report at £110,000 but I have an offer of £120,000 accepted then the bank will only give me a mortgage up to £110,000. I would then pay my deposit + an extra £10,000 to make up the £120,000.
Reddit Link	https://www.reddit.com/r/glasgow/comments/mf6vs5/flat_market_after_lockdown/gso9x4l/
Created	Mon 29th Mar 2021 11:46am
Status	normal ()

>if people want to invest over the value of the bricks and mortar, the mortgage shouldn’t cover that.

The mortgage doesn't cover anything over the value of the home report.

If I make an offer on a flat that's valued on the home report at £110,000 but I have an offer of £120,000 accepted then the bank will only give me a mortgage up to £110,000. I would then pay my deposit + an extra £10,000 to make up the £120,000.