Pulling out after accepting mortgage

dippy

loverly, if you manage to get a reduction on the price, your lender will be happier as your LTV will be lower (assuming deposit remains same).

Meeper

If you negotiate a discount on the property value, the lender will base their LTV calculation on the revised purchase price at the discounted figure. If you put in the same deposit, you will have a lower LTV, or you could reduce your deposit proportionately to keep your % ratio the same. Up to you really.

Glad you found that there were errors on the form and were able to correct them. They may only have been minor in theory, but actually any wilful errors on an application form can be very bad news.

kingstreet

If advisers submit requests for agreements in principle and the information changes when the full application is submitted, they will find themselves with questions to answer at some point.

Lenders monitor what advisers submit. Too many changes and too many AIPs which don't proceed to full application can set the alarm bells ringing.

I always establish the exact income figures and get full details of all credit commitments before I go anywhere near an AIP now to ensure the applicant's "rough estimate" of their annual income of £25,000 isn't more like £20,000 when I check the payslips.

Although the adviser may only supply a business card, IDD, KFI and reasons why letter, it is completely reasonable for an applicant to request a copy of the factfind and any application submitted on their behalf.