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Mortgage Offer - Change in Property . LTV Change ?
purple_ck
Posts: 39 Forumite
Hello,
Not sure if anyone will be able to help with this one but will ask anyway. I had a mortgage offer agreed before lockdown (about 94% LTV) we since pulled out of the purchase because of a few reasons - the main one being the price and it not being a long term property for us to live in. We have seen other properties that we would happily stay in long term so would ride out any negative equity etc due to uncertainty at the moment. My question is would the bank still offer us 94% LTV and change the property address with a valuation etc and updated bank statements/payslips because this was offered before the banks pulled 95% deals? would they still have to honour this ?
Not sure if anyone will be able to help with this one but will ask anyway. I had a mortgage offer agreed before lockdown (about 94% LTV) we since pulled out of the purchase because of a few reasons - the main one being the price and it not being a long term property for us to live in. We have seen other properties that we would happily stay in long term so would ride out any negative equity etc due to uncertainty at the moment. My question is would the bank still offer us 94% LTV and change the property address with a valuation etc and updated bank statements/payslips because this was offered before the banks pulled 95% deals? would they still have to honour this ?
0
Comments
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no harm in asking the lender if the offer is still valid, but given the current climate, I wouldn't hold my breathe"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
the offer is valid till Sept , just not sure how it would be with changing property. I think will have to phone or email to find out0
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If you are no longer buying the property. Then the mortgage offer technically lapses. The lender has totally discretion and control.1
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Depends on the lender. I changed property and it had to be underwritten again but I maintained the 95% LTV.Total Value of wins in 2009: £900 appox. 2010: £730Wins 2011: Carlisle Utd Tickets (twice!), Baby Food Hamper, Straighteners, Chugginton Toy1
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