Changing Mortgage Product

alifeforfriend

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pjread

I think the KFI should state if the fee is 'refundable until completion' or similar - if it doesn't, it probably isn't, but should be stated somewhere on your paperwork.

Have you actually had a formal mortgage offer or just a decision in principle? Moving to a higher LTV (more risk for the lender) I would expect to mean 1/ back to underwriting to review, and 2/ higher rate product.

amnblog

A smaller deposit = a higher bar on the underwriting


You may not get an offer with a 10% deposit.


You need to speak to the lender as what will be available depends on the circumstances of your case.

alifeforfriend

pjread wrote: »

I think the KFI should state if the fee is 'refundable until completion' or similar - if it doesn't, it probably isn't, but should be stated somewhere on your paperwork.

Have you actually had a formal mortgage offer or just a decision in principle? Moving to a higher LTV (more risk for the lender) I would expect to mean 1/ back to underwriting to review, and 2/ higher rate product.[/QUOTE

Thrugelmir

Suggest you speak to Tesco first in order to establish what they will or will not do.