Changing lenders

[Blossom]

Hi we sold our house last year and are now in the process of buying another house. We had initally thought that we would stay with our original mortgage lender. We have gone as far as getting a Loan Offer letter from them that we haven't yet signed. They have already sent out Value etc. We are also in the process of setting up home insurance.
We're now thinking of going with another lender (better offer).
I would like 2 thinks confirmed.
1 We're not tied to the original offer because we haven't signed anything yet.
2. We could just inform the insurance company of the name of the new lender.

Also - is this change likely to annoy - solicitors, estate agents etc. Have I overlooked anything?
Any advice will be appreciated.

 

[LDFerguson]

If your current lender has paid for the valuation, you'll probably have to reimburse them for that. But if you do, you might be able to use the same valuation for your new lender.

Auctioneer won't mind as your choice of lender is irrelevant to them. Solicitor should be fine too as you haven't yet signed the original loan offer, so s/he's unlikely to have sent anything in to the original lender.

Original lender will probably be disappointed, but that's business. Go for it.

 

[Senna]

No one will be annoyed, go with whichever lender offers you the best rate. A few years ago it would have been which bank offers you the lowest tracker or initial fixed rate, now its probably depended on who has the lowest standard variable.
At the moment i think AIB has the lowest SV of 2.75%.
Its your cash, bank loyalty should account for very little.

 

[Kine]

Ask your current lender to match the better offer?