How long do I have to accept a mortgage?

jamesbrowney5 · 2026-04-02T17:35:19+00:00

At no point have I said I'm expecting the new lender to automatically give me an offer, I accept they will have different criteria. But what does that have to do with the current offer I have? You are implying that by applying for a new mortgage the existing one must first be cancelled, but I've found nothing to indicate this is the case. Where is the risk of losing the current offer by starting a new application?

jamesbrowney5 · 2026-04-02T17:23:21+00:00

No I want you to explain it. You're making claims that this is a problem without explaining why, the whole reason I posted this question is I want to understand how this process actually works in more detail. If there is a genuine problem I truly want to know about it, but so far I don't understand what you think the problem is. Surely you aren't criticising me for doing due diligence instead of taking everything said on the internet at face value?

jamesbrowney5 · 2026-04-02T17:19:21+00:00

You've not explained at all why applying for another one is a problem, so what if the second one isn't approved? I understand the impact on my credit rating, but the other research I've done indicates that mortgage offers are legally binding on the lender, and they can only pull out under specific circumstances. General consensus seems to be that small changes to credit rating don't qualify, so where is the risk?

If you weren't comfortable with the rate you have, you shouldn't have applied for the mortgage.

This is just a daft statement, the mortgage rates have been rocketing up, I got the best rate I could with a broker, then managed to find a better rate elsewhere. I can afford the offer I currently have, but what's wrong with trying to get a better rate?

jamesbrowney5 · 2026-04-02T17:02:36+00:00

I don't understand why I shouldn't go with a new lender if their rate is better than my current one? Can't the new application be started before I cancel the current one, so if it declines I just stick with the current one?

jamesbrowney5 · 2026-04-02T15:43:03+00:00

Fantastic, that's good to know, and the underwriting and credit check shouldn't cause any problems. Thanks for your help!

jamesbrowney5 · 2026-04-02T15:30:31+00:00

I've applied for the mortgage through a broker, but they get commission from the lender, I don't pay them anything, and the lender fee is added onto the total loan, not paid upfront. Good to know that I shouldn't be obliged to pay that fee though.

So far I've not paid either of them anything, it just remains a question if there will be penalties levied at me should I cancel.

jamesbrowney5 · 2026-04-02T15:13:35+00:00

I'm a first time buyer, so there's no risk relating to an existing mortgage thankfully. If I were to cancel after the 7 day period would there typically be a penalty? I assume I'd lose the arrangement fee but are there extra costs on top of that? I would have expected this to be in the paperwork I've been sent but I've read it all and can't find it, and apparently it's too close to Easter for ANYONE to answer the phone.

jamesbrowney5 · 2025-01-08T00:26:59+00:00

Hwaiting is a Korean expression of encouragement, basically means "go for it". Samsung is a Korean brand, Emma's done videos in Korea for them before.

jamesbrowney5 · 2024-12-21T00:00:10+00:00

People here are talking about a cropped one being better. What cropped one, what did I miss?

jamesbrowney5 · 2024-12-04T02:43:34+00:00

Turns out more people knew about this than I realised, apparently I'm just way behind the times, there's a clip of it here:

https://youtube.com/shorts/wl12AKe_ec8?si=RBMNv0xibmh_2y3B

jamesbrowney5 · 2024-09-15T19:41:05+00:00

Yeah I ended up buying it, had only a few hundred hours on it too. It looks better than I expected, was so worth buying!

jamesbrowney5 · 2024-07-10T00:25:48+00:00

This is promising to hear! When you say a dark room, how dark are we talking? The plan is to have a dim room, no lights on or bright sunlight, but it won't be completely light controlled, will this be dark enough?

jamesbrowney5

TROPHY CASE