changing property details on mortgage application?

emmalita

Hi I was in the process of buying a house and have received my mortgage offer. The house has now fell through and if i was to buy another one how would this affect the mortgage application? The new house is £20000 more and still within the affordability range halifax have set for me. Obviously i will have to increase my deposit to make it up to 25% I know i will need another survey doing and as long as thats ok is that it? Will i just be issued another mortgage offer or will the underwriters look at the whole thing from scratch? Thanks

22225

Hi I have a similar question. If the house I have offered on falls through can they simply switch my mortgage offer to a new property? (If same or lower price) Thank you

opinions4u

In both cases they will need to collect the new property details, re-credit score the application, value the new property and underwrite the case again.

It it highly likely that the proofs of income etc they need are already on file, so the process shouldn't be too arduous.

Let your mortgage adviser know what's happening and take it from there! You'll probably be asked to sign the application form again.