You have seen this four bedroom house and the location is perfect but you cannot afford it. You can only afford a smaller house. Both the word gazumping and the practice are among a number of things about buying a home in Britain that surprise Americans who have had some experience with house-buying back in the States, according to British mortgage brokers, bankers and others who help them through the process.
Also, if you are only pre-qualified, the loan amount is somewhat flexible, but if you are actually pre-approved for a certain dollar figure, do not house shop over that …