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Offering less on property after valuation. Delays new Mortgage offer
ies07
Posts: 2 Newbie
Hello
Just getting ahead of myself here..and being a new member of mse forums I wanted some views off you all.
We have a mortgage offer but after the homebuyers survey we decided to ask for a £5,000 reduction due to repairs etc. Not sure if they will accept it yet but..
My question is would we need to go through the whole mortage application again, would we be credit checked, sumbit three months payslips/statements again? Ive been on Nationwides website and couldnt see anytning about this. Im Just thinking about the time it will take and trying to anticipate how long this may all take again or can this all be done pretty quickly?
Thanks!:j
Just getting ahead of myself here..and being a new member of mse forums I wanted some views off you all.
We have a mortgage offer but after the homebuyers survey we decided to ask for a £5,000 reduction due to repairs etc. Not sure if they will accept it yet but..
My question is would we need to go through the whole mortage application again, would we be credit checked, sumbit three months payslips/statements again? Ive been on Nationwides website and couldnt see anytning about this. Im Just thinking about the time it will take and trying to anticipate how long this may all take again or can this all be done pretty quickly?
Thanks!:j
0
Comments
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It depends on if you change how much you ask for, and your lender and on how the LTV is affected, if it drops up a threshold then your mortgage rate might rise.0
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It will only affect it by 1% so we are still within the 85% LTV bracket. Think it went from 81.79 to 82.1%.0
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