Mortgage approved -rates go up :(

skiTTish

Hi
We had just had a mortgage approved 'subject to valuation ' then the rates went up before the valuation was completed ......
I know the answer already tbh but just to remove all hope from my tiny lil mind..
The increase will apply to our mortgage too wont it ? :rolleyes:

_Andy_

Depends if you had a full mortgage application submitted. If you had then you would normally have secured the rate.
If it was just an approval in principle then you won't.

skiTTish

thanks
Gah sorry ,im cluless as to which it is
We have signed the papers and it states that this mortgage stands as long as it starts within x amount of days BUT
also on the front page it states that its not legally binding

_Andy_

By the sounds of it you'll be fine. Give the lender a call if you want to clarify though.

sammyjammy

It sounds to me as if your funds had already been put aside os you should be safe to get the old rate.

Sam

skiTTish

ooOOOOOoo Darg namit ,I got my hopes up again now :rotfl:

thanks ,hope your right as the difference is around £40 a month,would be kicking myself:eek:

If i survive this whole thing I am NEVER buying another house again EVER