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  • FIRST POST
    • Jay2804
    • By Jay2804 6th Dec 18, 5:43 PM
    • 11Posts
    • 1Thanks
    Jay2804
    Nationwide ReMortgage
    • #1
    • 6th Dec 18, 5:43 PM
    Nationwide ReMortgage 6th Dec 18 at 5:43 PM
    Im in the process of remortgaging with Nationwide, my current house has no mortgage

    The only reason im remortgaging is to buy another property, my question is, if the property i want to buy sells for more than i can pay can i change my mind about the remortgage? As i wouldn't want to remortgage if i cannot buy this certain property

    Any help?
Page 1
    • Nebulous2
    • By Nebulous2 6th Dec 18, 6:18 PM
    • 2,215 Posts
    • 1,425 Thanks
    Nebulous2
    • #2
    • 6th Dec 18, 6:18 PM
    • #2
    • 6th Dec 18, 6:18 PM
    How are you buying? Surely you can work out if you will get it for the price you can afford before getting the mortgage?
    • Thrugelmir
    • By Thrugelmir 6th Dec 18, 8:25 PM
    • 62,068 Posts
    • 55,249 Thanks
    Thrugelmir
    • #3
    • 6th Dec 18, 8:25 PM
    • #3
    • 6th Dec 18, 8:25 PM
    Will the Nationwide release funds for the purpose you intend?
    "You get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets." - Peter Lynch
    • Jay2804
    • By Jay2804 6th Dec 18, 11:40 PM
    • 11 Posts
    • 1 Thanks
    Jay2804
    • #4
    • 6th Dec 18, 11:40 PM
    • #4
    • 6th Dec 18, 11:40 PM
    The property will be offers over so i will have my max i can offer by remortgaging if it goes over that obviosly i dont want to be left with money and a mortgage
    • Nebulous2
    • By Nebulous2 7th Dec 18, 4:18 AM
    • 2,215 Posts
    • 1,425 Thanks
    Nebulous2
    • #5
    • 7th Dec 18, 4:18 AM
    • #5
    • 7th Dec 18, 4:18 AM
    The property will be offers over so i will have my max i can offer by remortgaging if it goes over that obviosly i dont want to be left with money and a mortgage
    Originally posted by Jay2804
    Well if your offer is accepted, then surely you draw down the mortgage after that when you need it?

    I did something similar, applied for a mortgage, had an offer accepted and my solicitor drew down the funds 3 days before the entry date. If I hadn't been successful my solicitor wouldn't have asked for the money and my mortgage offer would have lapsed.
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