Confused about mortgage amount

[RunningKatie]

I think I may have made an ooops on our mortgage application.

When we first started looking we estimated how much we'd get for our house and how much we'd want to spend on a new house. Now as we're getting near to completion I've realised we can actually get away with borrowing £6.5k less but our offer letter from the bank has been sent to the solicitor etc. with our original guess estimate on it.

I did say to the guy from the bank that I wasn't totally sure how much our outstanding mortgage was and he said that was fine, it would all be sorted out. Will it or are we going to end up borrowing more than we actually need?

It takes our bank weeks to do anything so I'm really nervous of ringing them and asking for a revised offer as it could hold up the whole process.

Please stop me freaking out! I really want to bury my head in the sand about it all.

If you end up with more than you need, you can pay a lump sum into your mortgage, or you can use the extra for house repairs, a holiday, or whatever you want.

Thanks HSMM, we've discovered we need to carpet the house so some money would be useful, and we were going to put in some savings so if we end up with too much then we won't do that.

Just a bit embarrassed that after all the faffing I've managed to slightly mess it up.

There are always extra costs when you move house. Estate agent fees, solicitor fees, removal companies, stamp duty. If it's not new furnishings you may find you need to do some running repairs when you get there. The last time I moved house I think I added an extra £5k 'just in case'.

Thanks CogitoErgoSometimes (fab name, I had to google it!) - we're going with the extra money and then we can overpay so put it back in if we don't use it.