Reducing amount on mortgage promise?

Too_Hairy_Husky

This is all a bit hypothetical at the moment...

Basically, the house we want to buy was valued with land attached at the rear. This land is un-mortgagable and we are currently TRYING to renegotiate to buy the house separately.

My question is, would our mortgage company - The Woolwich - re-value the house and lend on our current application dating from the beginning of December or would we have to reapply for a new mortgage all over again?

Thank you.

Wh05apk

You should be ok (however, check rates, they have fallen since then) it will need to be referred back to the valuer to confirm value still acceptable.

How/why is the land un-mortgageable?

Too_Hairy_Husky

Wh05apk wrote: »

How/why is the land un-mortgageable?

:mad::mad::mad: Because the greedy so and so selling it has decided to slap an Overage on it (eg if we build a house - which we wont - she gets 40% of the profits for 50 years) making the whole thing un-mortgagable. She's now asking us for £50,000 in cash for the land separately from the house... :mad::mad::mad:

Thank you for putting my mind at rest - to be honest I'm beyond caring about the rate I just want somewhere to call home...

Thank you again x