provisional morgage offer keeps on reducing

LucyH1986

My partner and I had exactly the same problem with two lenders.

For our third application we increased the deposit by around £4k and secured the mortgage with a lower interest rate and monthly payment and got £500 back.

I was worried that by continuously applying it would effect our credit scores but essentially as we were declining their original offers it was fine.

It is really stressful - but there are numerous lenders. Are you using a mortgage broker?

steph2901

I've also had this experience. Was given a decision in principle before I even looked at houses. Have £35,000 deposit and was looking at houses around £110,000.

Went to full application and had valuation done, which came back fine. Then they reduced their offer by £10,000 and I could no longer proceed.

Tried another lender, same thing happened.

I was applying on my own but will be trying again in a few months for a joint one and hopefully have better luck

Good luck!