Expecting a reduced mortgage offer. Options?

ACG

The application with YBS wont affect LBS. 
I would start the legal work if you can make the LBS offer work. Just make the solicitors aware that you may get a higher offer from YBS next month (basically just ensure the solicitors are on panel with both lenders or can be added if not).

Dave_Z

Thanks both.  Has calmed my nerves a little!

We're pretty far along with the legals already as both sides want to complete next month.  Solicitors and developer are aware that we're engaged with YBS too and there is potential for it to go with them if they offer the same or more.  YBS rate is a fair bit lower than LBS (4.43 vs 5.15) so even if they go low too it'll be much easier to make it work.

Dave_Z

Just to tie up this thread, we've now had an offer for the full amount from YBS.  Very happy to get this hurdle out of the way.  I can't praise YBS enough, really.  No stress, no hassle, just very helpful people.  That said, I do see plenty of positive reports from LBS customers on here, so do wonder if we just had a bit of a useless broker.