Mortgage in Principle Question

[MindtheGapBetweentheTrainandthePlatform]

I got my Mortgage in Principle (NatWest) back in September but it has taken a while to organise a completion date as my seller was waiting on a date for their new build to be released. As the interest rates have come down since September, do I need to organise for another MIP (to factor in the reduced interest rates) or will NatWest apply it anyway?

Completion date end of January

I used a broker

Ask your broker. Normally they reapply for the lower rate before you draw down your mortgage, but you neee to check they will be doing that.

I got in touch with my broker and he will sort it for me 😁

If you are completing in two weeks then I would hope you have a mortgage offer, not a mortgage in principle!

Assuming mortgage offer is what you mean, then you should be able to apply to the lender to have the mortgage at the new lower rate instead. However depending how quick they are at processing, it could well delay exchange.