Amend mortgage offer to lower priced property

BertieN

Question to Cscott139, amnblog:
From your experience with Accord, could you please let me know exactly what the process is like? They have a Replacement Property Application Form but unsure whether that is also good when the offer was already submitted. Someone said you had to go in online to request the change. If you have done this before and you can give me any specific feedback to help my broker, that would be ideal.

I would also like to know, in your experience, if it is usually a straight property swap (after new valuation) or did it involve new credit check, underwriting, etc.

Thank you.