Mortgage audit after exchange

sullycat1

How often are mortgage offers pulled for audit AFTER exchange?

Worrying now, due to exchange this week no audit so far.

Skipton is my lender and I’m just so scared it’s gonna get pulled. Also, my solicitor is checking tomorrow that funds are still available and ok to be released prior to completion and I’m assuming if they needed anything else that they would ask for this then?

davidmcn

"Exchange" is irrelevant to the lender. The question is how often are offers withdrawn after they are made. And I've never encountered it. Still, first time for everything, eh?

Thrugelmir

sullycat1 wrote: »

How often are mortgage offers pulled for audit AFTER exchange?

Offers aren't pulled for audit. They'll be delayed. Unless the audit uncovers an issue with the application itself.

sullycat1

So after they’re offered they’re not normally audited

Thrugelmir

Randomly audited internally. Even the staff are subject to checks. To ensure that company policy is being applied consistantly. While underwriters may have a degree of discretion there's a framework under which they operate. Overall lending criteria being ultimately set at board level.