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Changing property after Barclays approval

520d2012
Posts: 71 Forumite

Hi Guys
Just wondering whether anyone has had any experience in changing property after a mortgage was offered by Barclays.
We were offered a mortgage in August which is valid till January. For whatever reason it didn’t work out with the house we were looking at. Have found another property and would fall in similar LTV (Subject to Valuation).
The minor problem is my pay is made up of an element of variable pay (OT), and averages out over the year, but last month I had double what I would normally get, but this month I will get 0.
Are Barclays likely to reassess affordability and change product?
Loan amount will stay the same, property is more expensive, however I am putting more deposit to make the difference
Thanks in advance
Just wondering whether anyone has had any experience in changing property after a mortgage was offered by Barclays.
We were offered a mortgage in August which is valid till January. For whatever reason it didn’t work out with the house we were looking at. Have found another property and would fall in similar LTV (Subject to Valuation).
The minor problem is my pay is made up of an element of variable pay (OT), and averages out over the year, but last month I had double what I would normally get, but this month I will get 0.
Are Barclays likely to reassess affordability and change product?
Loan amount will stay the same, property is more expensive, however I am putting more deposit to make the difference
Thanks in advance
0
Comments
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Anyone?
please help0 -
We just had this, the broker just amended the details online, we had a new valuation done and then a new offer issued (it was a slow process though!) however, the valid to date didn’t change so we were unable to complete in time so our broker requested an extension - as it was their slowness that’s caused the issue!) that was on Sept 6th and we are still waiting! (They do a new assessment/want Utd docs for an extension)0
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