Hi,
I arranged a mortgage (well, my mortgage broker did) for a house I was meant to purchase. This was before the interest rate dropped. The seller of the house has pulled out leaving me, and the others in the chain, high and dry. I have lost money on solicitor and survey fees. I’m now worried my buyer will pull out if they have to wait much longer.
I have actually seen another house, nicer than the one I was going to purchase. It’s £15k more asking price than the original house. I’m 53 so can’t take on a big mortgage (I have over half of the property value as a deposit) - this is a divorce btw.
I am thinking of offering £10k less than the asking price (they need to move quickly as they have another house they’re trying to get - new build). The house has been on the market for 3 months. However, I’d also offer £5k less of the asking price if they turned the initial offer down.
My question is, would I be able to negotiate with NatWest for a lower interest rate without involving my mortgage broker (who Id already paid for the other house purchase, that fell through)?
Even though it’s a more expensive house (slightly), if I could negotiate the interest rate - 5 year fixed rate - then the payments I had planned on paying would be roughly the same.
Do I have this option?
I plan to pay the entire mortgage off in 6.5 years when so get part of my pension (NHS) lump sum at 60 (95 scheme for those in the NHS).