Do lenders continue to make checks after mortgage offer has been recieved?

misstee1980

..........

Thrugelmir

misstee1980 wrote: »

I have also heard of lenders withdrawing offer after exchange of contracts, is this normal?

thanks

Not normal. However spot checks are conducted and if adverse data is detected then the offer may be withdrawn.

Lavendyr

misstee1980 wrote: »

Can anyone advise if lenders continue to make checks on you, ie, credit files or calling employers once they have given you a mortgage offer?

Probably depends on the lender, but if they haven't checked all of this stuff out before issuing the offer, they're being a bit sloppy!

Your solicitor will (at least, should) run a bankruptcy check on you and anyone else on the mortgage between exchange and completion, though.

misstee1980 wrote: »

I have also heard of lenders withdrawing offer after exchange of contracts, is this normal?

Yes, very unusual. You do see a few on here, but think of the thousands of people completing on houses every year and the handful of issues that arise. It's not impossible, but it's fairly improbable if everything has been done correctly.

littlesparkles

My mortgage offer states that I must clear my credit card balance of £100 (yes one hundred pounds!!) before completion. Very picky. Others on these forums have advised not to take on any credit before completion so the car purchase will be out off until move in day!