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Mortgage fee error in my favour... their problem or mine?
orinoco
Posts: 59 Forumite
Hi
I am in the process of remortgaging as I am nearing the end of my fixed rate.
We agreed to an initial offer but then found the lender had reduced the interest rate a couple of days later (only 0.1% but every little helps right?) so I went and complained and they sent us a new offer at the lower rate which we agreed to and signed (with a witness) all the legal stuff that came via the solicitors. That all went back around the middle of August.
Today we suddenly got a new offer (at the same rate) out of the blue and a new set of legal papers with no explanation as to why.
Having compared the two offers carefully it appears that in the offer we agreed to the lender had not added the £800 arrangement fee (which is now present on the new offer). Given that we agreed to the offer without it, are we now obliged to accept the new offer with it included?
It sounds cheeky! I think, really, the thing that bugs me is on the most recent offer they haven't even explained why this new offer has been sent. If it had been my mistake I would now be locked in because we are past the 14 day "pull out". Is the same true for them??
Thank you!
Orinoco
Edit: Or thinking about it, am I just asking for trouble because then they might deal with me less favourably in the future????
I am in the process of remortgaging as I am nearing the end of my fixed rate.
We agreed to an initial offer but then found the lender had reduced the interest rate a couple of days later (only 0.1% but every little helps right?) so I went and complained and they sent us a new offer at the lower rate which we agreed to and signed (with a witness) all the legal stuff that came via the solicitors. That all went back around the middle of August.
Today we suddenly got a new offer (at the same rate) out of the blue and a new set of legal papers with no explanation as to why.
Having compared the two offers carefully it appears that in the offer we agreed to the lender had not added the £800 arrangement fee (which is now present on the new offer). Given that we agreed to the offer without it, are we now obliged to accept the new offer with it included?
It sounds cheeky! I think, really, the thing that bugs me is on the most recent offer they haven't even explained why this new offer has been sent. If it had been my mistake I would now be locked in because we are past the 14 day "pull out". Is the same true for them??
Thank you!
Orinoco
Edit: Or thinking about it, am I just asking for trouble because then they might deal with me less favourably in the future????
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Comments
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I think you will find that until the get the last offer signed, they wont release the money to you. Speak to your solicitor or lender and ask the question.I am a Mortgage AdviserYou 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
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When I got my offer it said make sure you send "the most recent offer" to your solicitor... so I would think that this suggests that if they send out a revised offer the previous one is invalidated?
I'm not sure tho... gud luck and let us know what happens!
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