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Funding for Lending effect mortgage?
hothotsun
Posts: 13 Forumite
Hi I have a mortgage at the underwriting stage with Natwest for a buy to let, the survey was done last week. Will the scrapping of this scheme have an effect on the decision ?
thanks
thanks
0
Comments
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Nope.
It may affect the rates for new mortgage products from Q2 of next year, as it determines the rates at which lenders can fund their products; but will make no difference to the underwriting of applications.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 -
None at all. Lenders don't have to advance the funds they've drawndown immediately.0
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