When is a mortgage 'certain'?

RainbowsInTheSpray

My boss has been a bundle of nerves since beginning her remortgage. She has the formal offer and in theory there's only a week or so to go before completion and release of funds.

Her broker is incommunicado with illness so she has nobody available to consult - and she's wondering whether the lender is now 'committed' or could still pull out if the mood takes them.

djm1972

She should have a solicitor handling her side (and possibly the lenders side) of the transaction - can't she contact them for an update?

The mortgage offer will be subject (amongst other conditions) to the lenders solicitor confirming legal title to the property and that any outstanding mortgages have been redeemed. Other than that they shouldn't have any reason to simply withdraw it (although they probably can) - and it is almost certainly valid for 6 months.

herbiesjp

If this is a re-mortgage, and she has signed everytinh and sent in all requested information, and the date has been set for next week - it should all go through fine.

Tell her not to worry

HTH