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What can go wrong in the time between getting our mortgage offer and moving in?
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*Kat*
Posts: 1,829 Forumite
We have just put our reservation fee down on a new development, our plot will be ready in September.
Our financial adviser is applying for the help to buy scheme, but he doesn't think we'll have any problems with that. We already have our mortgage in principle with Halifax.
After we receive our authority to proceed from the Government to pay the 20%, our IFA is going to apply for our mortgage.
After that is received we need to conclude missives. Can the lender pull out after we have received our mortgage offer and signed missives? I am probably worrying about nothing, but I want to be sure?
I mean, for example, what if I miss a credit card payment? Can the lender retract their mortgage offer?
Our financial adviser is applying for the help to buy scheme, but he doesn't think we'll have any problems with that. We already have our mortgage in principle with Halifax.
After we receive our authority to proceed from the Government to pay the 20%, our IFA is going to apply for our mortgage.
After that is received we need to conclude missives. Can the lender pull out after we have received our mortgage offer and signed missives? I am probably worrying about nothing, but I want to be sure?
I mean, for example, what if I miss a credit card payment? Can the lender retract their mortgage offer?
0
Comments
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The lender can retract the offer at any time before completion although it is uncommon.
Just dont start missing payments, running up debts, or having credit checks done and you should be fineI 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.0 -
Direct these questions and worries at your broker.
If you have concerns, your broker needs to know.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0
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