Changing mortgage application

[mnahmnah]

Hi

Does anyone know if this is possible?

We had an offer accepted on a house on Thursday and submitted our mortgage application. I have seen a different house we prefer today. Can we change the address on the application? Can we change the purchase price if we need to?

I very much doubt it. You’ll need to start the application process again based on the new circumstances.

@Thebigblueballoon

Shame. Such bad timing! Thanks

You may be able to - it would be best if you can suspend the valuation on the original property or you will have to pay for another survey. Is it similar purchase price and LTV?

@jimmymcg

The application has only just gone in, so not even approved. It depends on what offer would be accepted but it is possible it would be the same purchase price

Well in that case, as you have not had offer accepted on the new property, you'll just have to try to put the application on hold. Bare in mind that a valuation not happening on the house you have sale agreed on might but that in jeopardy if they get wind of what you are up to.

And yes you should be able to change the borrowing amount and purchase price - as long as you stay in the same LTV band, it will be the same products. All providing that you have scope for the higher lending, also assuming the new property is standard construction and does fall foul of the lenders property criteria.