Shall I give mortgage offer details with new offer?

kayen

Hello there

I have a mortgage offer from a previous failed purchase and have made an offer on a new property which I love. 

I've provided the EA with proof of deposit.  Until now my mortgage adviser has confirmed with the EA that I have sufficient funds to transact.  EA has accepted this but would have preferred actual document/s to evidence this.   I haven't shared the exact mortgage figure or documents  as it seems intrusive and also as it would tell EA/seller how much they could push me price wise. 

 I'm now at the 'last and final offers' stage and I'm re-thinking whether I should disclose now to boost my chances.   Apparently there is 1 or 2 other bidders.   

My revised offer will not 'use up' all the mortgage offer funds but I don't want to go absolutely to the  limit.    I just have a nagging feeling its putting all my cards on the table and somehow it would disadvantage me for the reasons above.  Am I being too cautious?  

Any pro's/ cons or reassurance please?

housebuyer143

If you have an actual mortgage offer for more than their house then show them. That shows you have no issues getting the mortgage - it doesn't matter what you can afford as it's best and final, they are not going to try and push you and if they do just say no. 

eddddy

I don't think I see a significant downside to sharing your mortgage details with the EA.

If your offer is the highest and is acceptable to the seller, the EA won't mess about and risk annoying you by asking you to offer more.

Equally, if somebody else has made a better acceptable offer, the EA won't mess everyone around by asking you to offer more.

Perhaps if none of the offers are acceptable to the seller, the EA might come back to you, because of your mortgage offer.

kayen

thank you both.  Just never know what's really going on!