Changing Product after Mortgage Offer

hufc2002

Hi


Our mortgage application with HSBC is currently with the underwriters. This has been submitted via a broker and we have applied for a 90% LTV on a 2 year fixed rate.


If the application is successful, are we able then to change the product i.e. go for a 5 year fixed rate?


Just trying to weigh our options up given that the base rate is really only going to go one way.

Mortgage_Adviser

Most likely you can but it will delay a process a bit. Not a problem at all if it is a remortgage.


If it is a pourchase I personally would not make any amendments for a simple reason that normally the vendor can pull out at any time before the exchange and the extra couple of days could possibly mean that the vendor gets offered a better price at the last minute so personally I would never do anything that can even slightly delay the application.


But is is obviously up to you.