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Mortgage Offer?
Uncle_Fester_2
Posts: 291 Forumite
Can a 'Mortgage Offer' be withdrawn days before Completion? 
Many Thanks
Many Thanks
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Comments
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In theory yes it can
Never had it happen thoughI am a Mortgage AdviserYou 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.0 -
Until the funds are requested a mortgage or mortgage offer can be refused, declined or withdrawn at any point without reason or explanation.
Have only seen it once though, happened to an ex collegue of mine when he was rumbled for submitting false figures with the client on a self cert application.0 -
AndrewSmith wrote: »Until the funds are requested a mortgage or mortgage offer can be refused, declined or withdrawn at any point without reason or explanation.
Have only seen it once though, happened to an ex collegue of mine when he was rumbled for submitting false figures with the client on a self cert application.
Surely they should check everything before hand? 0 -
They dont check things on self-certs most times (hence the name self-cert).0
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Uncle_Fester wrote: »Surely they should check everything before hand?
generally they do, but they can also run another credit check prior to completion. I've never had an offer withdrawn in over 10 years though - what is the reason given?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you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.0 -
generally they do, but they can also run another credit check prior to completion. I've never had an offer withdrawn in over 10 years though - what is the reason given?
Just general knowledge
I don't want anything to fall flat at the eleventh hour and lose my deposit (£23K) for a pointless thing!!!
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Well don't apply to the Woolwich then.0
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Am in the same boat....Have paid a 5% deposit..plus all other charges...and am having the exchange tomorrow..hopefully...lender says, they have not received my direct debit mandate and the valuation RETYPE...and the mortgage broker says its been posted and my solicitor says, he need to exchange by tomorrow, but the bank should get those documents by then,,mortgage broker is not helpful...and am getting nervous and worried, as every penny i have spent is hard earned...0
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