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Can Nationwide halt deal after exchange?
ForeverWaiting
Posts: 1 Newbie
Hi,
I have a mortgage offer from Nationwide issued back in February this year, pre-MMR checks.
I've not been able to exchange yet for various reasons and it's looking like it might go down to the wire and exchange beginning of August, nearly the full 6 months from offer issue.
As far as I can tell, Nationwide would not be willing to lend me the same amount post MMR checks based on their online calculators (other lenders will though).
I understood that once an offer was made, provided no changes in circumstance occurred (they haven't), then the offer would be good.
However, I read a few stories about Halifax saying they will only honour offers 90 days after 26th April (when MMR was introduced) and am now getting nervous I'll try to exchange in August and Nationwide will pull the offer due to retrospective MMR.
Does this sound possible, and does anyone know Nationwide's position on retrospective MMR applied to existing offers?
Big thanks
I have a mortgage offer from Nationwide issued back in February this year, pre-MMR checks.
I've not been able to exchange yet for various reasons and it's looking like it might go down to the wire and exchange beginning of August, nearly the full 6 months from offer issue.
As far as I can tell, Nationwide would not be willing to lend me the same amount post MMR checks based on their online calculators (other lenders will though).
I understood that once an offer was made, provided no changes in circumstance occurred (they haven't), then the offer would be good.
However, I read a few stories about Halifax saying they will only honour offers 90 days after 26th April (when MMR was introduced) and am now getting nervous I'll try to exchange in August and Nationwide will pull the offer due to retrospective MMR.
Does this sound possible, and does anyone know Nationwide's position on retrospective MMR applied to existing offers?
Big thanks
0
Comments
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Contact Nationwide about it. You don't have to be specific about your offer. Then you'll knowFriendly greeting!0
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