We have just had a frightening mortgage valuation from the Halifax which values our top floor 2 bed, 2 bath at nearly 27,000 Euros less than we paid for it 3 years ago (before IVA)!!
Has anyone had a formal valuation for a similar property, including by the developer on their own mortgage, who would be prepared to share it with us, either on the Board or privately.
We have queried it with Halifax who are prepared to consider revaluing against the net purchase price of 3 years ago but, even at that, there is absolutely no increase in value in 3 years.
We're hoping that this is a mistake and someone can help us prove it. If not, then anyone who was going to mortgage their apartment is going to be looking for a lot of extra deposit money .... like us!
Thanks for your help.