Don't believe the "Offers Over"

May 11, 2020

 

There is a lot of noise over prices at the moment and whether there

will be a dramatic drop in prices as we exit lockdown. My take is that it will be down to consumer sentiment. If they feel that they have security in the workplace then not seeing a drop. Expectation is that lending will come back to the loan to values previoulsy seen so there should be money out there. But the most important thing is to look at the Home Report value before you go for a viewing. The offers over is just a marketing tool to get you over the threshold. Lenders look at Home Reoport and base mortgages off that. Expect Offers Over to be as much as a 20% discount on the Home Report value!

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