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Can a offer letter be withdrawn

mouttou
mouttou Posts: 14 Forumite
in Mortgages & endowments
hi,
I have received a offer letter from a lender and am wondering if they can withdraw the offer later, as I am exchanging the contracts tomorrow, after which I am legally bound to the seller.

Many thanks

Comments

  • JoeK_3
    JoeK_3 Posts: 1,374 Forumite
    A contract can be withdrawn at anytime before completion.

    JoeK
    I am an Independent Financial Adviser.
    Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.
  • Mr_helpful
    Mr_helpful Posts: 3,233 Forumite
    Joe is correct but it is very unlikely unless fraud is involved however I have just had SPML decide to audit the valuer (packagers own) on the day of completion and refuse to release the money.
    I like to give people as many choices as possible to do what I want them to. (Milton H Erickson I think)
  • Tribulation
    Tribulation Posts: 4,001 Forumite
    Mr_helpful wrote: »
    Joe is correct but it is very unlikely unless fraud is involved however I have just had SPML decide to audit the valuer (packagers own) on the day of completion and refuse to release the money.


    Could you tell me what that means please ?

    I have a offer from SPML, does this mean things are likely to go wrong?
    Martin Lewis is always giving us advice on how to force companies to do things.

    How about giving us advice on how to remove ourselves from any part of     MoneySupermarket.com

    I hereby withdraw any permission Martin might have implied he gave MoneySupermarket.com to use any of my data. Further more, I do not wish ANY data about me, or any of my posts etc to be held on any computer system held by MoneySupermarket.com or any business it has any commercial interests in.
  • JoeK_3
    JoeK_3 Posts: 1,374 Forumite
    Tribulation wrote: »
    Could you tell me what that means please ?

    I have a offer from SPML, does this mean things are likely to go wrong?

    Reference here is to an offer being withdrawn in the event of fraud being identified by the lender. If your application was straight forward and you submitted the correct information, then you can relax.

    JoeK
    I am an Independent Financial Adviser.
    Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.
  • Tribulation
    Tribulation Posts: 4,001 Forumite
    JoeK wrote: »
    Reference here is to an offer being withdrawn in the event of fraud being identified by the lender. If your application was straight forward and you submitted the correct information, then you can relax.

    JoeK


    Ah, many thanks. All 100% accurate info given so I'll sit back and put my feet up :beer:
    Martin Lewis is always giving us advice on how to force companies to do things.

    How about giving us advice on how to remove ourselves from any part of     MoneySupermarket.com

    I hereby withdraw any permission Martin might have implied he gave MoneySupermarket.com to use any of my data. Further more, I do not wish ANY data about me, or any of my posts etc to be held on any computer system held by MoneySupermarket.com or any business it has any commercial interests in.
This discussion has been closed.
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