We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Mortgage offer received, but seen a better deal from same lender.
Comments
-
yet, i had a mortgage agreed with northern rock, i saw a better one with them, phoned up to change and they said that I could not..
but give them a call and see. you may have a chance.
good luck
That's Northern Rock policy. They won't let you change even if you cancel your application and re-apply.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
You've reserved a particular product at a particular rate.
Its like buying something in december that is cheaper in the january sales - shops don't have to let you return it at full price to buy again for less,
Not quite the same, - I haven't received the product yet, - only a written "offer" on a bit of paper.0 -
Not quite the same, - I haven't received the product yet, - only a written "offer" on a bit of paper.
Just like if you order something online from, for example argos, that product is "reserved" for you even though you haven't picked the item up yet. A chunk of money has been set aside for your use when your solicitor contacts them to draw it down. In order to make you that offer, Nationwide have had to make the arrangements to ensure that they have the necessary funds available.
You might kick off if you arrived at argos to find that they didn't have the item in stock but I'm guessing you would be even more p*ed off if you went to draw down your mortgage funds on completion and Nationwide turned round and said "oh, we've lent all our money this month - you'll have to wait until we receive a few more savings deposits and mortgage payments to top us up". Bank "stock" arrangements are more complicated than retail but the principle is the same.0 -
kingstreet wrote: »That's Northern Rock policy. They won't let you change even if you cancel your application and re-apply.
Not sure how that would work. What is there legally to stop people re-applying? In particular, what if you have not even received an offer yet?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.4K Banking & Borrowing
- 253.3K Reduce Debt & Boost Income
- 453.8K Spending & Discounts
- 244.4K Work, Benefits & Business
- 599.7K Mortgages, Homes & Bills
- 177.1K Life & Family
- 258K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards