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Changing bank rate during buying house
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mattdragon2
Posts: 133 Forumite
I'm in the middle of buying house, got my mortgage approved, just signing papers for solicitors then waiting to complete.
I realised the bank I am getting mortgage has released the same mortgage I have but it's now about 0.4% cheaper.
Am I able to update my mortgage to this rate even though I have been approved a mortgage at a higher rate but have not completed yet.
Thanks.
I realised the bank I am getting mortgage has released the same mortgage I have but it's now about 0.4% cheaper.
Am I able to update my mortgage to this rate even though I have been approved a mortgage at a higher rate but have not completed yet.
Thanks.
0
Comments
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You can ask them but they may require you to pay whatever application fee relates to the new product, so if that is the case, bear that in mind when deciding how much money you will save over the fixed term period.0
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I just did exactly this on Friday. My exchange is due to take place next friday and I noticed that my bank have a mortgage identical to the one they have approved but 0.1% lower. I phoned the bank paid £80 and changed products. It will save me £600 over 5 years. The changed documentation came through on Saturday. All very quick and easy.0
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