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New mortgage rate after exchange
NewbeeT
Posts: 11 Forumite
Hi there
I was wondering whether this would be at all possible?I have a mortgage offer from HSBC at a rate of 4.49% for 2 year fixed period which expires end of May. I have exchanged contracts on a New Build and should complete as this expires. I have noticed that HSBC now have the same mortgage but the rate is 3.39% , same LTV etc . Can I approach HSBC to get the lower rate or do I have to let the other one expire and then apply all over again?
Thanks for your comments.
T
I was wondering whether this would be at all possible?I have a mortgage offer from HSBC at a rate of 4.49% for 2 year fixed period which expires end of May. I have exchanged contracts on a New Build and should complete as this expires. I have noticed that HSBC now have the same mortgage but the rate is 3.39% , same LTV etc . Can I approach HSBC to get the lower rate or do I have to let the other one expire and then apply all over again?
Thanks for your comments.
T
0
Comments
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You'll have to ask the lender, I'm afraid.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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You've exchange contracts so no you cant. If you want to apply for another mortgage you would have to withdraw your mortgage application and apply for the new one and pay a new application fee. You would be liable to being successfully sued if you start messing about at this stage.0
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It sounds like you might be in a situation where your mortgage offer will expire after you need to complete, will HSBC extend your mortgage offer if this is the case? If not then it might be worth while getting a new mortgage offer anyway!0
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