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Mortgage changes with new sale price?
Bernard74
Posts: 1 Newbie
Hi,
I'm about 6 weeks away from completion my mortgage was offered and fixed in mid August so it's a good rate on today's standard. My homebuyer report flagged a few issues and I've been able to negotiate to get a slight reduction. My issue is will this be a straightforward amend on the current mortgage (tsb) or will it need to start again based on the new offer? I'm worried the saving via negotiation will lose the good mortgage deal and therefore end up costing me more? 8 can't seem to get a definitive answer and looking for some reassurance. Thank you.
I'm about 6 weeks away from completion my mortgage was offered and fixed in mid August so it's a good rate on today's standard. My homebuyer report flagged a few issues and I've been able to negotiate to get a slight reduction. My issue is will this be a straightforward amend on the current mortgage (tsb) or will it need to start again based on the new offer? I'm worried the saving via negotiation will lose the good mortgage deal and therefore end up costing me more? 8 can't seem to get a definitive answer and looking for some reassurance. Thank you.
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Comments
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Should be straightforward as long as it doesn't change you into a different LTV bracket.0
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I'm in a similar position, the sellers estate agent has notified our solicitor of a reduction in agreed price. Still under 21% LTV.
Will the solicitor inform the mortgage company?0 -
Do it yourself. The solicitor will probably tell them about five minutes before you think you are to complete.TheBlueVoice said:I'm in a similar position, the sellers estate agent has notified our solicitor of a reduction in agreed price. Still under 21% LTV.
Will the solicitor inform the mortgage company?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.1
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