Changing mortgage deal from 15% to 10% just before exchange of contract?

okhajut

I am approaching the exchange of contract. The issue is that the surveyors (drain specialist, roof specialist, structural engineer and especially the damp specialist) highlighted a few different items that will need to be fixed. I have reached the stage of exchange of contract now and have realised that I could have more money if I go with 10% deposit deal rather than 15% deposit deal (£12,000 will be saved).

Is it wise to change at this stage? My solicitor said I just need to contact the lender and speak directly. What should I do?

getmore4less

It won't save you money the rate will be higher.

it may allow you to retain more money but you will have to go through the mortgage process again.

if you need to redo the mortgage you are not ready to exchange.