Changing additional borrowing after mortgage offer

Newheight13 Forumite Posts: 158
Second Anniversary 10 Posts Name Dropper
We currently have a mortgage offer from Halifax via a broker with additional borrowing. We no longer require the additional borrowing so can we cancel this now at this stage and also obtain a better rate as this would bring our LTV down from 85% to 60%



  • CSI_Yorkshire
    CSI_Yorkshire Forumite Posts: 1,792
    1,000 Posts Photogenic Name Dropper
    You can, but you say "to get a better rate"?  The 60% LTV rate you can get might be a new application and then will be at whatever rates apply today - if this makes any difference to your calculations.

    You can probably (but I've never done it) just take less money at the original rate without too much issue, although one of the mortgage advisors here will know better.
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