Mortgage offer cooling off period

Jackga

Is there a cooling off period for new mortgages ? I signed up for a re-mortgage with YBS last Friday (31st) for an offset mortgae at 6.79%. Can I pull out and ask to be put on a new product (with reduced rate following the base rut cut) ?

_Andy_

Has the mortgage completed yet?

Tiddler_2

Jackga wrote: »

Is there a cooling off period for new mortgages ? I signed up for a re-mortgage with YBS last Friday (31st) for an offset mortgae at 6.79%. Can I pull out and ask to be put on a new product (with reduced rate following the base rut cut) ?

As far as I'm aware mortgages don't have official cooling off periods, as mortgages do not fall under the Consumer Credit Act or Distance Selling Regulations.

I think the first thing to check is if there is a cheaper deal available - if it was a tracker rate you went for, I think any new deals introduced will have a bigger tracker margin. If it was a fixed rate then there is currently nothing to say that fixed rates are going to come down

koexelek

It really depends on the lenders discretion.
C & G let a client of mine cancel a deal within 14 days of him initially agreeing to it earlier today