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Mortgage offer reissue
Avigg
Posts: 39 Forumite
Hi,
We are in the middle of buying a property and already received our mortgage offer from Natwest on 90% LTV. I paid for a full building survey and in the survey report there’s some major issues with the property. I managed to get £10k reduction on the property value. My lender is Natwest and want to know if they will be re-issuing my mortgage letter based on new property price or I have to apply for a new application? My worry is Natwest are not offering any 90% LTV product. Can someone please advice and share their experience. Many thanks.
We are in the middle of buying a property and already received our mortgage offer from Natwest on 90% LTV. I paid for a full building survey and in the survey report there’s some major issues with the property. I managed to get £10k reduction on the property value. My lender is Natwest and want to know if they will be re-issuing my mortgage letter based on new property price or I have to apply for a new application? My worry is Natwest are not offering any 90% LTV product. Can someone please advice and share their experience. Many thanks.
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Comments
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I negotiated an extra discount and they just send it back to the underwriters and reissued mine, that was recently with Natwest. All sorted within a week1
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Just let Nat West know your new purchase price and adjusted borrowing if it will effect the LTV.They will give it a quick re-check and then hopefully issue a new offer.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.2
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Sure, I will do that tomorrow. It’s good to know that they will work on the existing application.LRmortgage said:Just let Nat West know your new purchase price and adjusted borrowing if it will effect the LTV.They will give it a quick re-check and then hopefully issue a new offer.0
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