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Seller pulled out, now need larger mortgage
Emmz83
Posts: 1 Newbie
Hello
I'm a first time buyer and I had my mortage offer accepted of only £28000, over 15 years. I only required a small mortgage as I have some inheritance.
3 months after having my offer and mortgage approved the sellers have pulled out.
I have found a few other houses that I like, however they are on for more money. At this stage can I ask my mortgage provider to increase the offer so that I would be able to afford a house that costs more than the original house I was trying to buy. Also as I have now wasted so much time my mortgage offer expires in august.
I would easily be able to afford to repay more with a longer payment term.
Any advice appreicated as I'm very confused with what to do now.
Emma
I'm a first time buyer and I had my mortage offer accepted of only £28000, over 15 years. I only required a small mortgage as I have some inheritance.
3 months after having my offer and mortgage approved the sellers have pulled out.
I have found a few other houses that I like, however they are on for more money. At this stage can I ask my mortgage provider to increase the offer so that I would be able to afford a house that costs more than the original house I was trying to buy. Also as I have now wasted so much time my mortgage offer expires in august.
I would easily be able to afford to repay more with a longer payment term.
Any advice appreicated as I'm very confused with what to do now.
Emma
0
Comments
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All you need do is ask and they will tell you what is possible.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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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