A customer contacted us to say they took a loan half way through their mortgage applicationš±ā¦.This nearly gave us a heart attack as it might have ruined the whole plan of a successful so far case! So much preparation, hours of work, customerās hopes they would soon be in new home ā all might have come to nothing! Why?
Any material change that happens in between a mortgage offer and the moment you collect your keys to new home must be reported to the lender āļø
Lender reserves the right to do pre-completion credit checks and any such thing as a new loan or car finance or outstanding balance on credit card can be detected, which may mean your mortgage may not be affordable any longerā¦
This is one of the things you shouldnāt do once you have mortgage agreed ā DO NOT TAKE A NEW LOAN!!!
What else could jeopardise the whole home buying plan?
šChange of a job
šReducing your working hours
šGetting into arrears or having a CCJ registered
There is, however, one thing you SHOULD ALWAYS DOā¦it is to speak to a mortgage broker first before you do anything.š©āš»š§āš¼
Should you have any questions about a mortgage, feel free to speak to us. We are here to help.
www.grnfinancialservices.co.uk
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