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Confused
PeggyMay
Posts: 39 Forumite
Hi, I’m confused about how decisions in principal work!
Let’s say we have a deposit of £100k, and we apply for a mortgage of £200k, and get a decision in principle for that amount.
But before the mortgage is signed and sealed, we decide we want to only put down £90k deposit (and keep £10k for home improvements).
Can we go back to the same mortgage lender and ask to borrow £10k more? Or will they be like, no, you said you’d put down £100k deposit, we know you can give us £100k and so you need to stick to it?
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