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Amending application for new mortgage offer
Process90
Posts: 96 Forumite
Does anyone know how it works with offers and the amending and transferring of an existing application and mortgage offer to a different property?
Our previous sale for a different property fell through 7 days ago but we've now found a new property and our broker has amended the property details for a new valuation to be carried out on it. However as this property is £20k cheaper than the one that fell through, we don't need as much of a deposit to achieve our desired 80% LTV should the property be valued at what we're buying it at.
So do we also have to amend the amount of deposit we'd like to put in (less than before) on the application or will this be automatically amended and generated for us by the lender if they offer us the 80% LTV that we've asked for?
Our previous sale for a different property fell through 7 days ago but we've now found a new property and our broker has amended the property details for a new valuation to be carried out on it. However as this property is £20k cheaper than the one that fell through, we don't need as much of a deposit to achieve our desired 80% LTV should the property be valued at what we're buying it at.
So do we also have to amend the amount of deposit we'd like to put in (less than before) on the application or will this be automatically amended and generated for us by the lender if they offer us the 80% LTV that we've asked for?
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