Nationwide Revised Mortgage Offer

BusyBargainz

Hello, I was wondering if anyone else here has had the same situation as me.
I am currently in the process of buying a house. We have had the survey and valuation done which all came back alright and at the right figures.
Nationwide text to say mortgage offer had been issued and this arrived in the post a few days later for the amount we wanted with one condition that OH pays the balance off his credit card before they will issue it.

Mortgage offer was sent to broker, us and the solicitors and all seemed to be ticking along. Searches are done etc.

I have today received a text from Nationwide saying “We’re pleased to let you know we’ve sent you a revised mortgage offer’.

What does this mean? Have they changed their mind? I guess I am going to have to wait a few days for the new one to come in the post but I’m worried it will be for less than we need? Why have they sent this text all of a sudden? Has this happened to anyone else?

:eek:

Anzhelka

"Revised" can mean any changes...can be interest rate, can be amount of mortgage offered. I would just wait for it, before getting too much worried. We had our interest rate changed also, as it changed during our application process.

BusyBargainz

Anzhelka wrote: »

"Revised" can mean any changes...can be interest rate, can be amount of mortgage offered. I would just wait for it, before getting too much worried. We had our interest rate changed also, as it changed during our application process.

That's fair enough. I guess we will just have to wait and see. Such a pain when I thought everything was going smoothly.

od017

Was there any update with this?

goodwithsaving

I had this. It may be that the term was incorrect and it needed amending.
Don't worry, I'm sure it's okay.

MrsC123_2

Hi, just received the same msg from Nationwide and was wondering if you could now shed some light on the reason?

Thanks

kingstreet

If your solicitor tells Nationwide something, it can trigger a re-offer the reason for which will not be visible when comparing the two.

It can relate to the title of the property, the build year being amended, practically anything.

If it was an issue affecting you, you would be contacted they would not simply issue a revised offer.

od017

I received the 'revised' message from Nationwide. There were two reasons for the revision: one was a small error in the proportion of my deposit listed at a gift [difference between the amount submitted to lender and the amount submitted to solicitor], the other was a slight reduction in the interest rate after the fixed rate ends. I presume this is due to the reduction in the BoE base rate.