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Modifying mortgage after offer issued
Delta_1984
Posts: 143 Forumite
Hi All,
We have had our mortgage agreement through and are quite close to exchanging (I hope!). Since then we decided to downscale one of our cars which has given us a few thousand extra which will take us to 85% LTV and a better rate. Does anyone here know whether it should be possible to modify our agreement now it has been offered to us? Might there be any extra costs incurred? (e.g. will we have to pay arrangement fee again as it's a different deal?) Our advisor at the bank is on holiday for 2 weeks so I expect will have to wait until then to action this; although will phone the mortgage advice line tomorrow during lunch.
Thanks in advance!
We have had our mortgage agreement through and are quite close to exchanging (I hope!). Since then we decided to downscale one of our cars which has given us a few thousand extra which will take us to 85% LTV and a better rate. Does anyone here know whether it should be possible to modify our agreement now it has been offered to us? Might there be any extra costs incurred? (e.g. will we have to pay arrangement fee again as it's a different deal?) Our advisor at the bank is on holiday for 2 weeks so I expect will have to wait until then to action this; although will phone the mortgage advice line tomorrow during lunch.
Thanks in advance!
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Comments
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Depends on the product and provider. If you have had to pay a booking fee then you may find you have lost that. Call the lender up and see what they say. It shouldnt be a problem but you just need to clarify what if any fees you may lose/incur.I 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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Thanks, there was no booking fee so that's a bonus
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