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Will the bank extend my mortgage approval?

loopygirl · 2013-05-09 15:52:56

I was approved for a mortgage some months ago, i have regular savings, a significant parental gift and no loans. I did owe 1400 on the credit card at the time but i am paying the minimum and sometimes more every month and the bank made no issue of this. I am looking at buying a house for 200K and only borrowing 70%. Thing…

09-05-2013 3:52pm

#1

loopygirl

Registered Users, Registered Users 2 Posts: 17 ✭

Join Date: February 2012

Posts: 4

I was approved for a mortgage some months ago, i have regular savings, a significant parental gift and no loans. I did owe 1400 on the credit card at the time but i am paying the minimum and sometimes more every month and the bank made no issue of this. I am looking at buying a house for 200K and only borrowing 70%.

Thing is morgage approval only lasts 6 months and that time is up soon and I haven't found the right house yet. What is the procedure for extending it another six months? I didnt think I'd be looking this long so I used my credit card a lot and now the balance is 2800, as I said I pay the minimum every month, will this stand against me, or is it a case that once you get approval its v straight forward to have it extended? I have been reguarly saving. Quite worried due to an article I read today. Thanks for any insight.

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