Stuart,

From what I’ve seen, the banks never miss out. That said I’ve just had a low ball offer rejected by a bank on a mortagee sale. My understanding is that the banks would have a very good understanding of the market place and would be aiming to recover their own funds plus make some potential profits. I also understand that there is legislation in place that requires banks to follow a certain steps to protect the unfortunate sole and to prevent a massive impact on the market place.

To all,

Is my understanding correct? I not I would gladly be corrected.

Cheers

Pete