Mortgage question

randomi15

Hi all,

If you have an offer and applied for mortgage and for some reason the purchase didn't go through, do you need to do the full application again?

Or can they just change the property details and not do another full search?

Thanks

randomi15

Many thanks

Mr_Potato

I think it depends on a) the lender and b) the time elapsed.
This happened to us and we had to do a full new application, with fees again (broker/application/valuation) and credit searches. Our original offer expired the day before our new application, but broker advised it would have been the same even if the original offer was still valid time-wise.

ACG

It is down to the lender.
This year I have had that happen twice. One required a new application (although being lazy and it is a lender I have a good relationship with I just copied the application and sent them an email to cross reference the 2 with an updated payslip and bank statement) this was 3 weeks after the original application.

Another lender sent me a 2 page form to fill out with the new property details. Strangely this had been nearly 3 months since the original application was made and they did not need a new bank statement or payslip.