Full mortgage offer but purchase fell through

Megandlg

Hi all. I applied for and received a full mortgage offer from Natwest for a property, but the purchase fell through shortly afterwards. I have now found another property and made an offer.
Can anyone tell me if Natwest will require a whole new application, or will they just take the new property details and do a new valuation? 

They don’t seem to be offering mortgages of less than 80%LTV now, whereas my offer is 95%LTV. The current purchase price is approximately £18k less than the house named in the original application, so my LTV will be less. None of my other circumstances have changed, other than that I have had a very small pay rise and paid off a credit card during lockdown. 

Any advice gratefully received! 

jamielutz1987

@Megandlg It differs from lender to lender, some require it to be treated as a new application which means that the withdrawn product may not be an option.

Are you using a broker? Hopefully one of the helpful brokers on this forum will throw some light on what Natwest’s policy is in situations like this.

nyermen

Best to ask them.  The bad news is that if its a new application, and you paid an arrangement fee, its probably due again, sorry.

Megandlg

thanks guys. I have contacted my broker but am still awaiting her response. Not heard anything from her since lockdown but she didn’t seem to suggest there’d be any issues. Maybe I’m just worrying too much.