Final lending decision C+G

yakface77

Hi,
i am remortgaging with the above for extra funds for home improvements, the mortgage was agreed in principle, had a valuation and all documents are in and i am now waiting for the 'Final lending decision' before the funds are released.

My credit report has been looked at by them, and they have recieved all documents, do i have anything to worry about ? could this mortgage still be refused at this stage? i am being overly paranoid probably.

What are your thoughts on this, and is it just a formality before i get the funds ?

thanks in advance
craig

TEDDYRUKSPIN

yakface77 wrote: »

Hi,
i am remortgaging with the above for extra funds for home improvements, the mortgage was agreed in principle, had a valuation and all documents are in and i am now waiting for the 'Final lending decision' before the funds are released.

craig

(1) Survey done? This will determine if you fit in the loan to value ratio for your mortgage rate package you chosen. If not, declined.

(2) Final offer documents? You have to sign these back anyway as these are the culprit documents which can hold back the remortgage and release of the monies.

(3) Credit report? Would'nt matter now. Preliminary checks went through fine, otherwise they would not have posted you out the final offer documents.

dimbo61

This all depends on your LTV and what your property is worth in todays market !!!
Lenders are very nervous about lending people too much money if they have to reposses in the future.

yakface77

Thanks, yes when the offer was given in principle, i opted for a particular product, but after the valuation, i then had to change it so it fitted in with the valuation.

So yes, the valuation was completed, im just nervous that things have an opportunity to still not go through !!

yes the credit check was done immediately on first application enquiry, they have also paid for solicitor to act for me and also paid for the valuation.
am i worrying over nothing ?