New mortgage application

uptown20

We accepted an offer on our house a couple of weeks ago and have partially reserved a new build (the sale and purchase are linked through the developer). We’re obviously having second thoughts given the uncertainty now and thinking of pulling out. We have our DIP and have an appointment to complete the mortgage application next week. Any thoughts or insight into what might happen to lending over the next couple of weeks/months? I’m wondering if we don’t go ahead with the mortgage application now whether it will be harder to borrow in the future? 

MovingForwards

No one knows what's going to happen, all we can do is guess.

Read through the numerous other posts which have popped up over the last few weeks and make a decision based on your own circumstances.

SimonBck

I am no expert but I would suggest it would be harder to borrow money in the forseeable future. If you was a lender surely your checks would be more stringent after a event like we are going through. I would want to know my money was going to be payed back. 

Thrugelmir

When's the newbuild due for completion? 

uptown20

Thrugelmir said:

When's the newbuild due for completion? 

 June at the moment but I expect it will be affected.