This may end up being a moot point, but my partner and are looking at a house to buy, it's 165,000 but the home report says it has evidence of damp and wood boring infestation, anyway, I thought we could put an offer in of 140,000 and use the extra cash to fix the problem.
My question is, can I get a mortgage for more than the price we pay for the house? i.e. get a mortgage for 165,000, only pay 140,000 and use the extra to resolve problems and maybe if we have any left over, put in gas central heating etc??
May be a moot point, as when we view we may not like it or the sellers may not accept 140, 000, but it's been on the market for nearly a year, so you never know your luck.
Oh and we'd be putting a 10% deposit down. If anyone can advise I would be very grateful!