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Hello,
I'm looking to buy a flat for between £135 and £180. Flats are going fast round here so I need a pre-approved mortgage to get a deal quickly.
As I'm not sure what price I'll be buying at, how do I arrange a pre-approved mortgage? Do I just get a pre-approved mortgage to cover the upper limit (£180k), and then adjust the application later (after getting an offer accepted) if I get an offer accepted on a cheaper property?
Thanks,
Mnbv
Simplest option is to talk to your bank (who knows you) or a mortgage broker. They can advise you on what you'll be approved for, once I was asked for a letter to confirm I had finance in place and my bank just drafted something bland, I suspect these days that would be harder to do. The fact is a lender will want to see the property valuation before confirming a mortgage deal so in reality nothing is pre-approved, it's all subject to actual details