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Agreement In Principle?
ferry
Posts: 2,020
Forumite
We're remortgaging for the first time and our new lender has agreed to our application 'In Principle'.
We'd like to make some plans for the topup money we've applied for.How much of a guarantee that our new lender will complete our mortgage after their 'Agreement In Principle'..?
Is it likely the'll still refuse?
We'd like to make some plans for the topup money we've applied for.How much of a guarantee that our new lender will complete our mortgage after their 'Agreement In Principle'..?
Is it likely the'll still refuse?
:j
0
Comments
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As long as the information you have supplied to get the information is correct you should be fine - all subject to the valuation
Just be careful with the valuation, if you are close to the limit for that particular deal. What I mean by this is for example your deal may be 5.49% fixxed up to a maximum of 85% borrowing. So if you are looking to be borrowing say 60% you should be fine, if you are coming close to limts you would just need to be certain of the figures
HTHI 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 -
Ok thanks
The figures are as follows..
115k mortgage on property valued at around 235K(5.49% fixed for 2 years)
No other debts:j0 -
Now that was a good guess for your rate!
Everything seems fine
As long as you can send in any paperwork they need i.e. payslips, ID, etc and the valuation is ok you will have no problems
HTHI 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
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