Will bank increase mortgage offer

j4the96

Hi

I had an AIP agreed for £124,500 and the the full application approved for £110,000 for a house costing £130,000 i had a £20,000 deposit.

I have now pulled out of purchasing this house - too many problems with it.

I have had an offer accepted on another house for £158,000 and have upped my deposit to £32,000 - 20%.

Will the bank only lend me up to the value of the AIP or lend more because i have a higher deposit ?

Thanks

Ian

ACG

they should offer what you need still.
As to whether they would offer more, its difficult to say without knowing your financial details.

j4the96

Thanks for your reply

I earn £32,000 PA and have no credit commitments

ACG

I dont think they would increase it by that much to be honest.

You might get a couple of extra thousand but i wouldnt say much more than £5k at best. Speak to the lender or your broker.

Worst case scenario they say no.

j4the96

Thanks again. Do you mean an extra £5,000 over the original AIP of £124,500 so it would be £129,500 ?

ACG

I do, bit thats just a guess. It can be around 4x your income.

Whos the lender?

j4the96

Its with the Natwest

j4the96

i only need them to up it by a couple of grand ;-)

ACG

I think they probably will increase it by a few grand but you should double check with them just to be sure.

Conrad

Not meaning to be rude, but all this chatter is pointless, just ask the lender!