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Can I put an offer on a house and get mortgage after?

Am looking to put an offer on a house which isn't yet built. Can I put an offer in and apply for a mortgage after? What would happen if I couldn't get a mortgage if the offer was accepted?

Asked on Sep 25 2010, Home Finance in Shipley | Report content

Answers (1)

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  • You can offer on the property and apply for the mortgage. With most new build properties the developer will ask for a non-refundable deposit to reserve the plot you are looking at. If you then find that you cannot get the mortgage you will lose the deposit you have placed to reserve. If you are approved for the mortgage the deposit you have given to the developer will be used as part of the purchase deposit.

    Answered on Mar 8 2011, Report content

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