Mortgage offers - different dates and rates

Dangorhar

Hi all,

This is my first post on these forums, so please forgive me if I haven't followed any specific rules, I hope this is the right place to post my question.

I'm in a situation whereby Nationwide has sent the mortgage offer to my solicitor, my mortgage broker and to myself, each quoting different 'dates issued' and interest rates and I do not know which offer is the 'final' one. Below are what each said:

Mortgage broker's copy: Date Issued: 4th Feb, 'A Fixed Rate of 4.09% for 36 months'.
My copy: Date Issued: 5th Feb, 'A Fixed Rate of 4.29% for 36 months'.
Solicitor's copy: Date Issued: 4th Feb, 'A Fixed Rate of 4.29% for 36 months'.

Further, the original quote for the mortgage product my mortgage broker sent me also quotes 4.09%.

I have checked the mortgage rates on the Nationwide website and a 3 year fixed has now increased to 4.29% from 4.09%. I understand an increase of 0.2% is not much, but I would obviously prefer the cheaper offer (it equates to a difference of roughly £1,000 over the 3 years). My mortgage broker is currently trying to resolve the issue and hopefully I'll hear from them today.

The issue is compounded by the fact that I had to wait a day or two longer for the mortgage offer to come through as it was 'stuck in a queue' at Nationwide's end but now I can't help thinking that it was intentional stalling to charge the higher rate.

Has anyone else been in this situation before? Are all offers valid?

Let_Us_See

What is the point of posting when your broker is dealing with the issue? Just wait a while.

Dangorhar

Let_Us_See wrote: »

What is the point of posting when your broker is dealing with the issue? Just wait a while.

I admit I am being impatient, but I'm curious if anyone else has had the same scenario and what happened in their case. Did they get the offer they wanted, or did they have to take the latest or earliest offer?

kingstreet

Your broker is responsible for ensuring the mortgage offer matches the key facts illustration used to generate the sale.

If something happened to affect the product, such as a property downvaluation taking you into a higher loan to value band, this should have been referred back to the broker to discuss with you first.

It may be a simple admin error the Nationwide and broker can sort out between them.