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Applying for a mortgage before additional funds are available

  • 22-10-2015 12:51pm
    #1
    hairyslug
    Registered Users, Registered Users 2 Posts: 2,594 ✭✭✭


    We are in the process of selling and buying, it's a NE mortgage so it all has to be done on the same day.
    We have a slight problem, ours is up for sale, a lot of interest and hopefully a quick sale. We have our eye on a house that is 5k or so outside our limit at the moment.
    We are due some back dated payments for a few things that won't be through to us until mid Nov.
    If we go for approval now, will they judge it on what we have now and will that be our max amount or can we add additional cash to it once it comes time to buy and the back dated payments have come thru. (I hope this all makes sense)

    Cheers


Comments

  • #2
    PaulM1977
    Banned (with Prison Access) Posts: 210 ✭✭PaulM1977


    Explain the shortfall to them and how it is going to be made up before the deal goes through and it should be fine, as long as you meet all the other lending requirements set out by the lender.

    Thanks,

    PaulM


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