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Re-Mortgage - They changed my mortgage offer rate!?
fantanafest
Posts: 3 Newbie
Hi all,
a bit of advice. I have just recently applied for a re-mortgage with NatWest through a broker (very helpful.) As they down valued my house I was offered a mortgage at 90% LTV (4.89% fixed for 2 years.) I received my Mortgage offer on the Tuesday and it confirmed the correct amount but at a rate of 3.89% fixed for 3 years - £40 better off a month, yesssss! My broker contacted me to inform me and also inform me he had checked with Natwest that the offer was correct to which they confirmed YES. The mortgage then completed on 15/08/2013. I have then received an AMENDED mortgage offer today Friday 16/08/2013 at 4.89% after completion. Are Natwest obliged to honour the first offer they issued me with after confirming with my broker it was correct?
Thanks.
a bit of advice. I have just recently applied for a re-mortgage with NatWest through a broker (very helpful.) As they down valued my house I was offered a mortgage at 90% LTV (4.89% fixed for 2 years.) I received my Mortgage offer on the Tuesday and it confirmed the correct amount but at a rate of 3.89% fixed for 3 years - £40 better off a month, yesssss! My broker contacted me to inform me and also inform me he had checked with Natwest that the offer was correct to which they confirmed YES. The mortgage then completed on 15/08/2013. I have then received an AMENDED mortgage offer today Friday 16/08/2013 at 4.89% after completion. Are Natwest obliged to honour the first offer they issued me with after confirming with my broker it was correct?
Thanks.
0
Comments
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God knows!
Your broker is going to have to resolve this with his NatWest BDM.
No idea how it might end up. I suspect they will leave you on the lower rate as the publicity of any other action would kill them.
Think RBS Group, taxpayer owned, etc etc.I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Thanks Kingstreet. Sounds reasonably optimistic, it would be nice to be on the lower as that was the rate and offer I'd assumed I'd completed on and built up my hopes of having a little extra each month! Fingers crossed eh?!kingstreet wrote: »God knows!
Your broker is going to have to resolve this with his NatWest BDM.
No idea how it might end up. I suspect they will leave you on the lower rate as the publicity of any other action would kill them.
Think RBS Group, taxpayer owned, etc etc.0
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