Mortgage Offer

TheTruemans

Hey folks, 
We have just received our mortgage offer in the post from Barclays and I have a question as I’m confused about something... 
The one page says...
The amount of £165,965.00 will be sent to your solicitor for completion.
Another page says...
Amount and currency of loan to be granted: £166,000.00
Then... (Which is all correct)  
The purchase price of the property assumed to prepare this offer: £190,000
Maximum LTV 90%
The maximum amount you could theoretically borrow on this loan would be £171,000... which is exactly what we expect it to be. 

I’m going to assume this has something to do with our interest rate but perhaps someone can advice!? 

Thanks 😊 

lspell1

The amount of your Mortgage is going to be £165,965, which is the amount of your Mortgage minus the funds transfer fee of £35. This is the amount Barclays has assessed your application on and approved for you to borrow.
The maximum you could theoretically borrow is based purely on the Mortgage available on your selected product, based on the value of your home. 90% of £190,000 = £171,000.
If you want to borrow £171,000, you will need to ask Barclays or your broker if this is doable.

TheTruemans

lspell1 said:

The amount of your Mortgage is going to be £165,965, which is the amount of your Mortgage minus the funds transfer fee of £35. This is the amount Barclays has assessed your application on and approved for you to borrow.
The maximum you could theoretically borrow is based purely on the Mortgage available on your selected product, based on the value of your home. 90% of £190,000 = £171,000.
If you want to borrow £171,000, you will need to ask Barclays or your broker if this is doable.

Thanks, we went back to our broker and apparently they made a mistake and put our deposit amount as £24,000 not £19,000 - Apparently it’s a simple fix but assuming Barclays are going to need to re-issue offer paperwork to our solicitor again. 

** Anxiety entered the chat **