{"id":117144,"date":"2020-06-15T13:00:07","date_gmt":"2020-06-15T06:00:07","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/can-you-get-a-mortgage-on-a-house-being-sold-below-market-value\/"},"modified":"2020-06-15T13:06:47","modified_gmt":"2020-06-15T06:06:47","slug":"can-you-get-a-mortgage-on-a-house-being-sold-below-market-value","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/can-you-get-a-mortgage-on-a-house-being-sold-below-market-value\/","title":{"rendered":"Can you get a mortgage on a house being sold below market value?"},"content":{"rendered":"


\nA friend has the chance to buy a \u00a3400,000 house in Brighton for \u00a3215,000 Q A close friend of a friend of mine has offered to sell him a house in Brighton for \u00a3215,000 even though its market value is \u00a3400,000.My friend, who is self-employed and 55 years old, is a first-time buyer renting in London.\u00a0He currently has a mortgage offer of \u00a3215,000 on a one-bedroom flat \u2013 also in Brighton \u2013 which is in place until the end of June. Obviously, the house is a much better proposition but his mortgage adviser has told him he would not be able to get a mortgage on a property that is not being sold at its market value. Is this true? Buying the house so cheaply seems too good an opportunity to pass up.\u00a0CFA No it\u2019s not true. According to Pete Mugleston of onlinemortgageadviser.co.uk, it is perfectly possible to get a mortgage on a property sold at below market value. He says: \u201cThere is an urban myth that to purchase (or sell) a property well below its actual worth may be unethical \u2013 or even illegal \u2013 in some way. But buying a house well below market value, with or without a mortgage, is generally a perfectly acceptable practice.\u201d Continue reading…
\n
\nSource : theguardian.com
\nRead more…Can you get a mortgage on a house being sold below market value?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A friend has the chance to buy a \u00a3400,000 house in Brighton for \u00a3215,000 Q...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-117144","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-utq","jetpack-related-posts":[{"id":106678,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/im-confused-about-renting-and-changes-to-capital-gains-tax\/","url_meta":{"origin":117144,"position":0},"title":"I'm confused about renting and changes to capital gains tax","date":"April 29, 2019","format":false,"excerpt":"\r I\u2019m not sure whether now would be a good time to sell the house I\u2019ve been renting outQ I\u2019m confused about the proposed changes in the capital gains tax system for people selling their home when it has been rented out. 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