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Going sale agreed just before mortgage approval runs out

Jovetic · 2014-10-19 18:30:58

Just wondering what would happen if you went sale agreed just before your mortgage approval runs out. Does the lender still honour the original approval? Or do you go through the whole process again? What if they come back with a lower approval amount? Where does that leave you in regards to the sale if you cannot afford…

19-10-2014 6:30pm

#1

Jovetic

Registered Users, Registered Users 2 Posts: 202 ✭✭

Join Date: April 2013

Posts: 185

Just wondering what would happen if you went sale agreed just before your mortgage approval runs out. Does the lender still honour the original approval?

Or do you go through the whole process again? What if they come back with a lower approval amount? Where does that leave you in regards to the sale if you cannot afford the amount you had bid?

Many thanks

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Comments

#2 19-10-2014 6:36pm

TheDriver

Registered Users, Registered Users 2 Posts: 12,687 ✭✭✭✭

Join Date: September 2004

Posts: 11908

Its drawdown rather than sale agreed i,think....

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