I have conflicting advice from two IFA’s.

Considering the changes in mortgage market stuff at the end of April. Will an existing, exchanged but not yet completed, mortgage be re-assessed?

Who’s the lender?

I assume you’ve got your offer from the lender and you’ve exchanged contracts? If you have, then no, it shouldn’t be re-assessed (this is assuming that you’re not outside of the offer time limit).

Best to speak to the adviser who gave the advice regarding the mortgage and ask them to get written confirmation from their BDM as to their stance on this scenario.

I assume you’ve not yet exchanged as you were only looking at that bungalow last week?

Not exchanged yet.
We would be before the cut off date.
I am heading back to advisor who sorted mortgage to get confirmation – he says no, old mate down south says yes we would…I just don’t need a spanner in the works of a (rapidly becoming) complex purchase.

Not exchanged yet.
We would be before the cut off date.
I am heading back to advisor who sorted mortgage to get confirmation – he says no, old mate down south says yes we would…I just don’t need a spanner in the works of a (rapidly becoming) complex purchase.

In that case you shouldbe ok. PM me the lender and I’ll see if I’ve had any info from them regarding this.

I’ve been an independent mortgage broker and worked with/for a few banks, I’ve never heard of any lender reassessing a mortgage once it’s been offered.