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Mortgage offer in principle
garyreddan
Posts: 4 Newbie
Hi all,
I have recently applied for a relatively small mortgage in todays terms. After telling the bank involved all my information I was told that the amount I need to borrow was available. I have since sent all my relevant documents to the bank to officially apply for the mortgage but have been told that they will lend me money but £17000 less than what we had verbally agreed. I have been completely honest and open with them from day one and can't understand why this has happened. Can anyone give me any help or advice please?
Many Thanks,
Gary
I have recently applied for a relatively small mortgage in todays terms. After telling the bank involved all my information I was told that the amount I need to borrow was available. I have since sent all my relevant documents to the bank to officially apply for the mortgage but have been told that they will lend me money but £17000 less than what we had verbally agreed. I have been completely honest and open with them from day one and can't understand why this has happened. Can anyone give me any help or advice please?
Many Thanks,
Gary
0
Comments
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First port of call is the lender in question. Get an explanation from them.
If that fails, then your only other option would be a different lender.
You can either go direct again (and hope you do not get the same situation), or go via a broker who would be able to make sure you fit criteria before applying.
If going direct, please be warned that too many credit searches can potentially cause you problems.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, 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.0 -
Have you asled the lender?
ETA; 'asled' = asked
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Don't knock it 'til you've tried it!0
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