2 Mortgage Offers from Lender, are they both valid?

Popenator

Hi
I recently applied to remortgage with my lender.
They have sent out 2 different mortgage offers.
The first at an incredibly good rate.
The second still at a good rate, but not as good as the first.
They provided no explanation why 2 were sent out and did not reference the first one when the second one arrived.

I have contacted the lender, they are investigating and have said only the second one (less good rate) is valid.

My solicitor has proceeded, and naturally I have incurred costs, on the basis of the first offer.

Now the lender says only the second offer is valid.

Can the lender do this? According to the letter received from the lender neither offer expires until september.

Is the first offer legally binding, can they pull it from under me?

Any advice would be welcome.

Thanks

harvey115

No offer is legally binding in reality.

The lender can pull out from either offer. The offer would be legally binding once the money has gone out from the Lender's account.

foreversummer

Although not legally binding, I would still get on to them and point out that this is their error and you have incurred costs because of it. You will need to get beyond call centre staff though and speak to a manager further up, or if you use a branch go there. I would not give up without a bit of a fight and you never know they may honour the better rate.

liubeliu

What is on the KFI that you were given prior to the application being submitted?