Hi,
I'm currently re-mortgaging and going for a 80% LTV mortgage with Nationwide. I've been accepted but its all subject to valuation.
My query is simple, if they down value, can they switch my application to a 85% LTV Mortgage thus paying a higher interest rate, without me 1)Re-applying thus making another print on my credit file 2) paying another £99 fee for another product?
I think I have pitched my value in the right place, but I'm just concerned that Nationwide may down value, then would I have to start the whole process again? Having the comfort that I can switch to an 85% LTV if they down value wouldn't be perfect, but at least re-assuring that I can get the deal done.
Any help is appreciated.
I'm currently re-mortgaging and going for a 80% LTV mortgage with Nationwide. I've been accepted but its all subject to valuation.
My query is simple, if they down value, can they switch my application to a 85% LTV Mortgage thus paying a higher interest rate, without me 1)Re-applying thus making another print on my credit file 2) paying another £99 fee for another product?
I think I have pitched my value in the right place, but I'm just concerned that Nationwide may down value, then would I have to start the whole process again? Having the comfort that I can switch to an 85% LTV if they down value wouldn't be perfect, but at least re-assuring that I can get the deal done.
Any help is appreciated.