We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Mortgage amount and fees etc
tightasagnats
Posts: 391 Forumite
Hello, I got an AIP from Natwest a month ago based on income and purchase price estimate of £475k.
I've now had an offer accepted on a house for £450k. Mine was estimated to fetch 430/440 but got 421k so my question is whether I will be able to use the full amount offered initially, which would leave me some of my savings for doing the place up, or would I have to use my savings (10-12k). I owe £102k on current mortgage BTW so the deposit would be large in any case.
I'd like to be able to pay the fees and stamp duty from sale of flat, and use the balance and the mortgage to purchase new house.
Thank you.
I've now had an offer accepted on a house for £450k. Mine was estimated to fetch 430/440 but got 421k so my question is whether I will be able to use the full amount offered initially, which would leave me some of my savings for doing the place up, or would I have to use my savings (10-12k). I owe £102k on current mortgage BTW so the deposit would be large in any case.
I'd like to be able to pay the fees and stamp duty from sale of flat, and use the balance and the mortgage to purchase new house.
Thank you.
0
Comments
-
Assuming it passes affordability and credit check then yes.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
-
Muchas gracias.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.8K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards