What do I do now?
In the current climate some lenders are reviewing their pre-approvals in light of COVID19. Sometimes this results in them reducing the amount they will lend you.
Unfortunately this is often not only for people who have been impacted by COVID19 but can be an across-the-board policy change. We have been seeing it applied to employees who receive overtime or bonus/commission income as well as some who are self-employed.
If your lender has reduced your loan amount get in touch with us today for a second opinion. Remember not all lenders are the same.