New mortgage application after changing property

lmcd21

Hello I wonder if anyone can assist me , I received a mortgage offer from Santander in dec 24 however my dream home went on to the market and my offer was accepted , I withdrew my offer from previous property and I am waiting for decision of new application due to property change . LTV is better with more deposit and less borrowing amount . Decision taking a little longer and I’m starting to panic . No other debts accept mortgage now . Worrying decision could be different outcome this time . Has anyone been in this position and had successful outcome I don’t realise changing address with a lower mortgage borrowing request would take me back to the start 

Mark_d

Was your Dec 24 mortgage offer an agreement in principle, or was it a full mortgage application including credit check?

If you have been approved previously then your mortgage should still be valid.  The bank just need a valuation on the new property.

gwynlas

The mortgage is based on percived value of the property you are buying alongside your ability to afford repayments, Thus changing house and needs necessitates new application though if nothing amiss with the house there should not be any prooblem obtaining mortgage.