Had a mortgage offer from Natwest - Can we make an amendment

littlemissy29

Hi all - A help request please.

We have had a remortgage offer from Natwest, which includes £50k of additional borrowing.

We have signed the forms and got them back to Natwest's appointed solicitor.

We are thinking of cancelling the cash advance part of the mortgage offer and just borrowing the amount needed to pay off the existing mortgage.
Am going to speak to our broker tomorrow to let him know.

The remortgage does not start till Mid December due to an ERC on our current mortgage.

Three questions please -
a. Are they (Natwest) likely to do this.
b. Is it likely to cost us anything to make the change. (there is a £1000 arrangement fee)
c. Will it cause lots of issues for our (very nice) broker.

We are going to talk to him tomorrow - but wondered if anyone had any thoughts prior to our chat with him.

Thanks.

LM29.

ACG

b) no

a & c) it will depend. The original application was based on debt you have being cleared. So it will depend on whether or not it passes with some/all of the debt remaining. If it passed affordability it should be fine. In any event the broker will need to just check the affordability and then send an email over to the underwriters.

littlemissy29

All sorted - Very straight forward - Thank you.

LM29