Receiving mortgage cheque - all in 1?

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Plek Trum

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Hi, a quick and somewhat simple question...
My partner and I are finalising our sums before submitting paperwork for mortgage approval. House valued at 340k, offer accepted at 328k.

We were thinking of applying for 333k / 335k (we must install our own kitchen and this extra would help towards the cost.

When we (hopefully) receive the cheque to pass to the seller, can we get it in two parts e.g 328k in sellers name and the balance in ours?
I know it may seem a daft question but we are a little unsure (new to the property game!) All answers appreciated, thank you...
 
Isn't the value what someone is willing to pay for it? How can it be valued above what you are paying for it?
 
A bank will only issue out 90 -92% (if not a 100% mortgage) of the price that was accepted on the house.

So the bank will either issue you 328k if it is a 100 % mortgage - 301,760 if 92% loan or 295,200 if a 90% loan..
 
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