Mortgage offer process

personal76

Hi im just wondering if anyone can help and advise.I have been made a mortgage offer through santander and instucted solicitors but i have a few defaults on my credit file so i dont know how i got accepted in the first place as my credit history is rubbish.My question is
do i have another credit check done on me before i complete after it has all been offered as i have read on other forums you do?:j

Thrugelmir

If you have a formal mortgage offe and not just an agreement in principle. Then seems you have met their criteria for the borrowing you require.

Rather than look backwards. Think positively and look forwards. Do as much as is in your power to maintain a good credit history from now on.

personal76

The thing is i have read a few horror stories about people getting formal offers and then getting them withdrawn after exchange and im just worried thiswill happen as i am putting such a high deposit down,Have u heard of this?

Colliebird

No you should be fine - they would be aware of the financial costs you will incur so doubt if they would withdraw once papers have been signed - contract is a contract - call them and ask the question not in so many words if you are concerned they will put your mind at rest

GMS

Colliebird wrote: »

No you should be fine - they would be aware of the financial costs you will incur so doubt if they would withdraw once papers have been signed - contract is a contract - call them and ask the question not in so many words if you are concerned they will put your mind at rest

A mortgage offer is not a contract. Lender can withdraw the offer at any time should they choose to do so.

OP if you have been honest then there should be no issue. Abbey are flexible with lending so old adverse credit can be ok in some circumstances.

As for costs, it is not a concern for the lender. If they chose not to lend the last thing they would worry about is the cost to the customer