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Amending mortgage after renegotiating price
NewHouse86
Posts: 34 Forumite
It turns out some work is required on the house I’m purchasing. If we agree on a new lower sale price, do I have a to go through the full mortgage application process again? I intend to use the same deposit but the price of the house will be lower.
How much hassle is it at this stage?
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@NewHouse86 As a broker, the process to change the purchase price downwards (same or better LTV band) post offer is pretty simple and usually involves a short online/offline form to be submitted to the lender. Depending on the lender it will then take a bit of time for admin and the new offer to be issued. So to answer your question, not a full mortgage application from scratch.
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