Slight Error on Mortgage Offer

MMcGrath93

Hi,

Just wanted to see if anyone can provide some light on an issue.

We have accepted our mortgage on a new build property from Barclays. The property was "Site 37" on the plan which we stated at the time. The bank has put 37 as the property number which we are now aware is incorrect, we received a notification last week that our house number is 16.

Number 37 is already purchased and occupied, but is the exact same specification and house type as the house we have purchased and was valued by the mortgage provider. Does anyone foresee any major issues with this error. We are working to correct it with the solicitor but would like to get some reassurance as our solicitor is busy for a few days.

kingstreet

You need to inform the lender of the full postal address. The lender/valuer may well ask for the UK Finance Disclosure Form for the plot to ensure the postal address and plot number match.

We would not apply under a Plot number. We supply the full postal address and add the plot number in the "info for valuer" box.

Did a broker do this, or did you do it yourself?

FTB19

The exact same thing has happened to us - I didn't pick up on it but my solicitors did.
The original offer was made 26/02 and we had it through the post 01/03 - solicitors advised me it was incorrect 05/03, as yet I still haven't had the correct offer in writing although solicitors have advised me it has been issued. Hoping it will come in the next few days.

MMcGrath93

kingstreet wrote: »

You need to inform the lender of the full postal address. The lender/valuer may well ask for the UK Finance Disclosure Form for the plot to ensure the postal address and plot number match.

We would not apply under a Plot number. We supply the full postal address and add the plot number in the "info for valuer" box.

Did a broker do this, or did you do it yourself?

We done this ourselves with Barclays. The Barclays mortgage adviser doesn't seem too concerned it will be any big issue, we have received the Financial Disclosure Form from the developer and will meet with our Solicitor tomorrow. We have still 2 months or so until completion, just wanted to know if it was a massive deal. Thanks

davidmcn

Perfectly standard with newbuilds that at some point during the process the plot number will change into the postal address. Not a big deal provided everyone is satisfied they're talking about the same property.