Post Office Mortgage

CPS

Hi,
I applied for a Post Office Mortgage (3.95% 5 year fixed £995 fee) on Thursday and they have now lowered the rate to 3.69%, same fees. The Valuation fee has come out of my account.

They haven't done anything with my application yet, so wondering will they let me avail of the lower rate?

I will obviously phone them tomorrow morning but just checking if anyone knows if they will let me change?

Thanks

<sebb>

I expect you will get the new rate. I have a post office full mortgage offer. Before I signed it the rate came down. I called them and they issued new paperwork the same day.

monty-doggy

Same happened to me with Barclays. Rate lowered and when formal offer came it was at the lower rate.

quotememiserable

I was once sitting in the Halifax filling in paperwork, nearly done actually, when their fax popped out a new deal 0.5% lower.
Me: I'll have that rate instead then
Them; No, you're applying for the old one
Me: I haven't signed it yet though
Them: No, we'd have to fill in all the paperwork again
Me: OK
Them: oh alright then (change rate on forms we've already filled in)

Moral - until you've signed its just an application and either party can pull out. If they did try to keep on the higher rate, just abandon the app and go into another PO and start again. There's a good sum of money at stake.

CPS

quotememiserable wrote: »

I was once sitting in the Halifax filling in paperwork, nearly done actually, when their fax popped out a new deal 0.5% lower.
Me: I'll have that rate instead then
Them; No, you're applying for the old one
Me: I haven't signed it yet though
Them: No, we'd have to fill in all the paperwork again
Me: OK
Them: oh alright then (change rate on forms we've already filled in)

Moral - until you've signed its just an application and either party can pull out. If they did try to keep on the higher rate, just abandon the app and go into another PO and start again. There's a good sum of money at stake.

I guess worst case they could make me pay for the survey again. Would be disappointed if they made me do that but would still be worth it.