Remortgage offer higher than redemption value

[CalNaughtonJnr]

Perhaps a silly question and I should be asking the Conveyancers but they are a bit tricky to get hold of.

My now Wife and I initially commenced our remortgage in October (Mortgage deal ended in December) - between then and now we have got married, been on honeymoon and with Christmas holidays, we have obviously made several additional mortgage payment.

As such, our remortgage offer is now higher than our actual redemption value - can anyone advise if the new lender will alter the amount of borrowing to reflect the lower amount or will they still lend the original figure?

[Sarnie]

You would need a revised offer for the loan amount to be revised...........just complete and then pay the surplus funds off the mortgage immediately.....

[CalNaughtonJnr]

Thanks Sarnie - we have actually taken out an additional amount (with the mortgage but separate to the redemption) to carry out some home improvements - is it above board to add the additional to the 'improvements' pot?

[Sarnie]

CalNaughtonJnr said:

Thanks Sarnie - we have actually taken out an additional amount (with the mortgage but separate to the redemption) to carry out some home improvements - is it above board to add the additional to the 'improvements' pot?

They won't be bothered, you will receive all surplus funds......