Wrong Price on Mortgage offer

Alphabet89

Help!

I've received a mortgage offer through from Halifax which has £270k on the purchase price rather than £207k

Later on in the offer it says Valu of the property assumed to prepare this information sheet £207k but minimum value of the property required to borrow illustrated amount £270k

I think it is a transposition error but if it was incorrect then that means a huge difference in the loan to value. Looking at £150k mortgage.

Don't want this to drag on so any guidance would be well received.

Thanks in advance

Thrugelmir

Have you rung them or spoken to your solicitor?

kingstreet

You will need to ask for a revised offer.

Goldiegirl

They can amend this information on their records after completion, but as you've just received the offer, it'd be far easier just to ask them ( or get your broker to ask them) to issue an amended offer

kingstreet

I'm wondering how the product/LTV has worked with such an error...?

Thrugelmir

Is it an offer though ?

"Later on in the offer it says Valu of the property assumed to prepare this information sheet £207k but minimum value of the property required to borrow illustrated amount £270k"

kingstreet

Thrugelmir wrote: »

Is it an offer though ?

"Later on in the offer it says Valu of the property assumed to prepare this information sheet £207k but minimum value of the property required to borrow illustrated amount £270k"

The ESIS forms the basis of the offer, so it's possible it could be from the illustration or the offer.

Alphabet89

All sorted- Broker had to ring lender and solicitor had also flagged it.

Guess it's a simple transposition on keyboard. Sure lender won't mind me paying interest as if it was a lower LTV.

Glad to have it sorted- waiting game now for completion of the build!

Thanks to all