Mortgage offer declined. Meant to be exchanging this week. Is that it then?

lou4791

We are in a chain of 4 households all wishing to exchange this week and move after Christmas. The whole process has been going on for months. Our mortgage arrangements have been so frustrating with me having to chase up every couple of days that things are being done, never being able to talk to the same person twice, people not getting back to me, wrong fax numbers being used between my payroll and the mortgage company, blah, blah, blah. I was surprised that the process had got so far for everyone without us having had a firm mortgage offer, but the solicitor and EA seemed to want to push on with surveys and the rest of it all regardless and didn't seem worried. To be honest I wasn't too worried either. The mortgage advisor at the bank had gone through everything with a fine toothcomb numerous times to make sure that it would all be okay, we are with the same provider we have now, and are overpaying now to the level of what our new monthly payments would be, so clearly affordable to us. Anyway, I eventually managed to get a decision yesterday and we have been DECLINED! I didn't get to speak to the person who has been dealing with it, rather someone just reading the decision from their screen, so I need to call back today to find out the details. Would this decision be final or is there a chance of appeal? The thought of telling everyone involved is just awful.

stator

It does depend on the reason, there might be additional information you can provide or additional surveys or repairs that are needed on the house.