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    • toc25
    • By toc25 4th Jul 17, 4:32 PM
    • 224Posts
    • 222Thanks
    toc25
    If sale falls through after mortgage offer?
    • #1
    • 4th Jul 17, 4:32 PM
    If sale falls through after mortgage offer? 4th Jul 17 at 4:32 PM
    Just curious if anyone knows what happens if a house purchase falls through after receiving the mortgage offer? Say I was to then find another property to buy of a similar price would I have to go through the whole application process again? It's with Natwest.

    Thanks
Page 1
    • stator
    • By stator 4th Jul 17, 4:47 PM
    • 5,864 Posts
    • 3,851 Thanks
    stator
    • #2
    • 4th Jul 17, 4:47 PM
    • #2
    • 4th Jul 17, 4:47 PM
    Most lenders will let you transfer the application to a new property, don't know about Natwest.

    It doesn't mean you will get a mortgage, but you might save a little on the paperwork, you'll still have plenty to do.

    The main advantage is that you wouldn't have to go through all the tedious mortgage suitability questions so they can make sure they don't 'miss-sell' you the mortgage. When I applied with santander that was tedious.
    Changing the world, one sarcastic comment at a time.
    • LKRDN_Morgan
    • By LKRDN_Morgan 4th Jul 17, 8:32 PM
    • 272 Posts
    • 815 Thanks
    LKRDN_Morgan
    • #3
    • 4th Jul 17, 8:32 PM
    • #3
    • 4th Jul 17, 8:32 PM
    This happened to me about a month ago. Once we'd found a new house our broker sent the new property details to the mortgage lender. Had to get another valuation done. Went to the underwriters again but only took a week in total to have our offer updated
    • nb0825
    • By nb0825 5th Jul 17, 11:02 AM
    • 114 Posts
    • 33 Thanks
    nb0825
    • #4
    • 5th Jul 17, 11:02 AM
    • #4
    • 5th Jul 17, 11:02 AM
    If you're reasonably confident you'll get the mortgage (low LTV, steady stream of salaried income), push the vendor to exchange contracts asap. He won't be able to pull out without considerable cost in court.
    • Princey1983
    • By Princey1983 21st Aug 17, 9:50 PM
    • 12 Posts
    • 1 Thanks
    Princey1983
    • #5
    • 21st Aug 17, 9:50 PM
    • #5
    • 21st Aug 17, 9:50 PM
    Do Natwest ask for more payslips/statements? I'm in the same boat, house fell through after valuation stage but had been approved from the financial side at the underwriters.
    • dreamtrue
    • By dreamtrue 9th Oct 17, 11:38 PM
    • 3 Posts
    • 0 Thanks
    dreamtrue
    • #6
    • 9th Oct 17, 11:38 PM
    I am in same issue
    • #6
    • 9th Oct 17, 11:38 PM
    I am with Nartwest as well and our buying is falled..so what will happen to our existing offer...
    • amnblog
    • By amnblog 10th Oct 17, 8:10 AM
    • 9,877 Posts
    • 3,828 Thanks
    amnblog
    • #7
    • 10th Oct 17, 8:10 AM
    • #7
    • 10th Oct 17, 8:10 AM
    Nat West will need to assess the new property and consider any adjusted figures before they generate a new offer.

    If you application has been in some time they may ask for up to date bank statements or wage slips.

    You are not starting the process again, merely re-considering the process that has completed before.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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