Chaning mortgage offer before completion

benykeny

Hello,

We're buying a house off-plan and the house is shortly to be ready. We've had a mortgage in place for a while with Halifax (who apparently deal well with off-plan mortgages - i.e. extending the offer) which was quite competitive at the time we reserved it last year but is not so much now.

Now the house is due within a month or so I've had a quick look around and taking all things into consideration, it seems we could save ~£3000 looking at the best offers on the market now over a 2 year period (taking all additional fees, conveyancing and even another valuation into consideration). However, I'm mindful that having another credit check take place just before moving could affect our existing offer if the new one wasn't accepted. I understand Halifax will do another credit check before completion to confirm that we are not a risk and nothing major has changed in our circumstances.

Is this likely to be the case does anyone know? Are there risks involved if you already have an offer in place and are applying for a different mortgage? Any advice would be appreciated.

I'm going to check with the broker we were with, but they were very insistent on the Halifax mortgage at the time and when I raised the subject a few months ago they weren't keen at all but I generally just got the impression that they are a bit lazy (could just be their manner that gives me the impression, rather than their expertise)