| Comment | And the home report is not the value of the house, its an arbitrary made up useless number.
Property values and markets change, home reports being made up numbers isnt a protection mechanism for the banks, that is what the affordability check is for and thats easier and more accurate to do when the numbers involved reflect reality.
The banks didnt do this as some clever insurance, again literally the same banks will provide a mortage for a house worth £200k in England but will only give you £160 in Scotland. |
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