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mortgage offer withdrawn

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Comments

  • haras_nosirrah
    haras_nosirrah Posts: 2,208 Forumite
    Once you get your mortgage offer updated you should be in the clear as long as the older applicant doesn't pass another birthday and you don't take out any other credit

    I have been a mortgage broker for 9 years and never had anyone had a mortgage offer withdrawn after exchange
    I am a Mortgage Adviser
    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.
  • ppoppins
    ppoppins Posts: 9 Forumite
    Teaandtoast0124 wrote: »
    When you have completed.

    Not very helpful......
  • ppoppins
    ppoppins Posts: 9 Forumite
    haras_nosirrah wrote: »
    Once you get your mortgage offer updated you should be in the clear as long as the older applicant doesn't pass another birthday and you don't take out any other credit

    I have been a mortgage broker for 9 years and never had anyone had a mortgage offer withdrawn after exchange

    Sorry for the questions, any ideas where i stand if they decline? We have not and will not have any further borrowing, credit scores are 987 and 999 out of 999. There are no more birthdays till we get in!
  • hcb42
    hcb42 Posts: 5,962 Forumite
    Just shorten the term...as that is a lot easier than looking for another lender.
  • haras_nosirrah
    haras_nosirrah Posts: 2,208 Forumite
    Unless the shortened term is unaffordable or you have taken more credit you should be fine
    I am a Mortgage Adviser
    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.
  • kingstreet
    kingstreet Posts: 39,349 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I'd be surprised if this isn't Nationwide. Returning an offered case to "application submitted" is one of their system things.

    If this is about affordability, term and retirement age, there is a way round this.

    If you have pension contributions visible on your payslips or bank statements, Nationwide will allow a mortgage term to age 70.

    If 68 is no longer affordable, have your broker re-work the affordability to end before age 70. If it works, he should do a material change form to amend your chosen retirement age to 70 so there's enough affordability headroom.
    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.
  • lonestarfan
    lonestarfan Posts: 1,232 Forumite
    Tenth Anniversary 1,000 Posts Combo Breaker
    kingstreet wrote: »
    If you have pension contributions visible on your payslips or bank statements, Nationwide will allow a mortgage term to age 70.
    .
    I thought Nationwide lend up to age 75. Are you saying age 70 because it fits this case or do they only lend up to age 70?
  • kingstreet
    kingstreet Posts: 39,349 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    No. What I'm saying is Nationwide will do to 70 if you have evidence of payments to a pension.

    If you want longer, you actually have to provide evidence of income in retirement.

    Yes, I'm trying to find a solution to this particular OP's problem only.
    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.
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