So finally we have progress with the house. It seems to go this way. Sometimes you hear nothing at all and then BOOM, it all comes in at once.
Quickly though, my next test is in early September, so time has crept up again, fingers crossed it goes well.
Business is going well, so I’m happy about that.
I have sold 400 books (please check it out if you haven’t http://www.amazon.co.uk/Robert-Mr-Marcus-Evans/dp/1495975606) and have £1400 raised for The Lymphoma Association. Hopefully I will get to £2000 by Christmas.
Anyway housing is important for now, tests in a month or so 🙂
So Survey, done, no flaws.
Conveyancy, Done, no problems
Mortgage, valuation done…. they decided the house was worth less than our agreed price by £15k.
Bank then says we either have to stump up the extra amount… or go for a much higher percentage. At the moment we are signing onto 3.59% over five years (great rate) this mortgage gap would take it to 5.45%.
I can’t decide why they thought it was less. I can only go by experience of our first house also being less. Its maybe a risk thing, as the garden makes the price fine in our eyes.
So, bit of a bind. I text the seller and after a back and forth got him to drop £5000 off the price, which I was quite happy about as there are no defects and no reasons to do so.
Then because they want 15% of the house sum and they value it less, we actually don’t need an additional £10k, but an additional £6, which we can get from our work to house budget.
Long and the short of it is we now have a new offer accepted and all parties are in a good place to agree. Now working towards the provisional date of the 22nd of August.
That said we will then do three weeks or so of works. The plan is to convert the garage to a lounge (as it is bigger than the current longue) and then knock an arch through from the study to dining room. I fully intend to put up some before and after pictures once we get to that point, won’t that be interesting :P.
Once done we will then move in. There ends my housing update, hopefully there will be no more twists in the saga.
And on a side note if anyone fancies helping us move house in mid September that would be super…. 😛