| Comment | Having just gone through buying a house in the greater Glasgow area in the last few months, we saw houses we liked, called Santander and discussed offers 5-10% over valuation. I asked them about it and that was what they told me - that they’d value the house as part of the mortgage approval process and if ours wasn’t a crazy amount over then they’d take that as the current market value and allow us to mortgage the full sum.
We ended up going for a new build so it was fixed price, but the bank still ran their own valuation based on documents and discussion with the builders that was done during the mortgage application process. |
|---|