Nationwide Mortgage - Revised Offer (surprise)

Markeg1

I brought a new build property in April that has an expected build completion date of October. I went through a financial advisor for the mortgage, using help to buy, and was issued a mortgage offer from Nationwide towards the end of May.

I have just transfered the deposit to the solicitor to exchange contracts, but have not had confirmation this has happened yet. This evening I have had a text message from nationwide stating the valuation report has been recieved and a revised offer is being sent out to my compete surprise (I have already paid for the valuation report and Nationwide have recieved it before this in making the initial offer).

Im surpised to have not found any postings about this - has anyone had a similar experience and why would the offer be revised now?

Appreciate anyones thoughts

Jon_B_2

It will probably be a re-wording for help to buy. I had exactly the same thing with Nationwide recently.

kingstreet

Change of postcode, change of tenure, an error by the surveyor, who knows?

Chances are, your solicitor has corrected something from earlier in the process and it's been referred back to the surveyor for some reason.

Now it's been amended, a revised offer has been issued.

Markeg1

Thanks both - you have put my mind at ease.

Sonya-m

Hi

What was the reason in the end? I've already had my offer but have just gotten a text telling me they've issued a revised offer so am worrying now

TBeckett100

Chill Sonya. The OP would have been straight back on here with bad news.

Sonya-m

Fingers crossed it's nothing to stress about - waiting for 8am so I can call

exotictramp

Hi,

This is so weird, I have had the same text this morning. We are hoping to exchange contracts soon FTB and help to buy new build, so I freaked out!

I spoke to my broker who advised the solicitor wanted some of the wording for help to buy changed, and its nothing to worry about at all.

Hope this helps anyone with the same thing.

Guinness-Cat

We had this recently from Nationwide too.

In our case it was due to the property purchase price on the mortgage offer being rounded up by £5 so didn't match the price on other documentation.