Mortgage and completion

Tspice

Hi

I've applied and been accepted for a mortgage. But I may not need the full amount I've been accepted for. 

So I'm wondering.. at completion of my purchase can I say that I only want £80,000 of my £135,000 mortgage or will I need to apply again to the bank for a smaller mortgage? 

Thanks 

caeler

I ended up with a smaller mortgage than my decision in principle.  

ACG

You would have 2 options:
1) Get your mortgage offer reduced. 
2) Assuming your mortgage allows overpayments, once you complete, make an overpayment.  Most allow 10% of the balance, so on a £200k mortgage, you may be able to overpay by £20k on day one without incurring any costs.