We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
penalty for buyer if mortgage lender pulls offer after exchange ???
Comments
-
How does this even happen? If I lost all my deposit would be devastated, probably put me off buying a house for the rest of my life... how often does this happen, I'm waiting for exchange now and wondering if I should ask solicitor about this?0
-
looknohands wrote: »How does this even happen? If I lost all my deposit would be devastated, probably put me off buying a house for the rest of my life... how often does this happen, I'm waiting for exchange now and wondering if I should ask solicitor about this?
It should only happen if you've been a div with your credit after the mortgage offer. so essentially, keep up with all current credit payments and don't apply for any new ones. e.g do not buy furniture for the new pad on credit.0 -
Way to stress me out guys. Mortgage offer in July. Since then I've gonna on a debit card application binge. Exchange last week, completion next week -_-"Mortgage (Nov 15): £79,950 | Mortgage (May 19): £71,754 | Mortgage (Sep 22): £0
Cashback sites: £900 | £30k in 2016: £30,300 (101%)0 -
Withdrawal of mortgage after an exchange is very rare as banks only does it if they suspect some serious fraud or buyer's situation changes considerably (e.g. loss of job, criminal conviction etc.)
This is a reason why buyers are advised to keep as little gap (usually a week needed for banks) as possible between exchange and completion.Happiness is buying an item and then not checking its price after a month to discover it was reduced further.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards