Mortgage Offer Extension Withdrawn after Exchange of Contracts

markyg09

Hi, my brother has had a bit of a nightmare with a house purchase, they are first time buyers with no history of credit issues, both full time employed etc with no change in circumstances.

Due to various chain-related issues, their original mortgage offer expired, and they applied to Barclays to have it extended in order to allow things to resolve. That happened, and all parties exchanged contracts.

Barclays are now refusing to give the mortgage, even though they have a letter from them saying the offer was extended until December.

Mortgage broker is unable to change Barclays mind on the matter, and they are now terrified of being liable for fines if they have to apply for a new mortgage.

Does anyone have any advice/experience in this sort of situation that knows where they might stand in terms of liability? Can Barclays legally to honour their offer if the extension letter is produced?

Thanks in advance for any help!

Mark.

Thrugelmir

Look for another lender. Something appears to have occurred or come to light.