What next?

tunnel

Hi,
I've just exchanged on a corporate sale(repo). While waiting to exchange there was a higher offer come in so we had to up our offer and in turn change the details on the mortgage offer to reflect the higher offer.

Everything was done in a rush and it was only today, the day after signing the contract that our revised offer turned up in the post(sols had it faxed yesterday) Thing is, its now changed from a fixed rate to a tracker, yet we only changed the purchase price. No-one noticed that the mortgage product had actually changed.

We don't complete until next week but are we now stuck with the tracker or can we change it back to the original fix before completion?

Thanks in advance

Tunnel

Thrugelmir

Have you formally accepted the offer? i.e. signed and returned it.

_Andy_

"We don't complete until next week but are we now stuck with the tracker or can we change it back to the original fix before completion? "

ring the lender first thing in the morning and ask.

tunnel

Hi,
We formally accepted the original offer, then signed the release forms(assuming the product was the same,just different purchase price) in the solicitors for the funds. This is definitely a new one on me. Will be ringing the mortgage provider in the morning.

Worse still is that our solicitor is on hols until next Monday as we complete on the Tuesday

Thrugelmir

tunnel wrote: »

Worse still is that our solicitor is on hols until next Monday as we complete on the Tuesday

I would assume that your solicitor has arranged cover. As the funds will need to be drawn down in preparation.