r/Glasgow Tools

Title
Author	Dalhoos
Comment	Thanks for all comments so far. The bit I don’t fully understand is the home report as it’s this figure that the mortgage is based on. By way of example, a 90% LTV on £400k HR gets £360k mortgage. If house goes for 25% OVER the HR that’s a price of £500k meaning buyer has to fund £140k themselves! Would be less of a gap if surveyors (HR) valued the house more accurately at say £450k in the first place! And don’t get me started on the offers over price. This is ALWAYS well below the HR, and is simply click bate to pull in viewers! The whole system needs a complete overhaul. Any estate agents, valuation surveyors or lawyers out there that could enlighten this thread on why this system is still adhered to in Scotland?
Reddit Link	https://www.reddit.com/r/glasgow/comments/vjzpst/bearsden_and_glasgow_west_end_house_bubble/idmc1t9/
Created	Fri 24th Jun 2022 11:46pm
Status	normal ()

Thanks for all comments so far. The bit I don’t fully understand is the home report as it’s this figure that the mortgage is based on. By way of example, a 90% LTV on £400k HR gets £360k mortgage. If house goes for 25% OVER the HR that’s a price of £500k meaning buyer has to fund £140k themselves!

Would be less of a gap if surveyors (HR) valued the house more accurately at say £450k in the first place!

And don’t get me started on the offers over price. This is ALWAYS well below the HR, and is simply click bate to pull in viewers!

The whole system needs a complete overhaul. Any estate agents, valuation surveyors or lawyers out there that could enlighten this thread on why this system is still adhered to in Scotland?