Mortgage offer reissue

Avigg

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. 

Catwales

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 week

Avigg

Catwales said:

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 week

Thanks for your response. Really appreciate!

LRmortgage

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. 

Avigg

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. 

Sure, I will do that tomorrow. It’s good to know that they will work on the existing application.