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Mortgage amount change after survey
Glover1862
Posts: 410 Forumite
I'm due to exchange soon but may need to reduce my mortgage amount as I've reduced my offer, any idea how long it should take?
I assume the application just needs to be adjusted and not reassessed as the amount it less and shouldn't cause much delay. Must happen quite often as buyers reduce the offer after a survey.
I assume the application just needs to be adjusted and not reassessed as the amount it less and shouldn't cause much delay. Must happen quite often as buyers reduce the offer after a survey.
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Comments
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It does happen all the time. For a downward adjustment in the past for us it has only taken a couple of days.Thinking critically since 1996....0
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Depends on the lender and their service levels. Usually can be done in a couple of days but some lenders may take a week or so.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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It's Platform, so week or three!0
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