Possibilities of last minute audit / checks?

Thrugelmir

Sheep wrote: »

Your offer has also been sent to your solicitors which has allowed you to exchange contracts which is now legally binding.

Can you imagine the implications of allowing you to do that and then changing their mind and do further checks afterwards?

Isnt going to happen. Relax. You are fine.

Unless there's been a material misdisclosure which subsequently comes to light. Which would render the offer void.

melj16

Thrugelmir wrote: »

Unless there's been a material misdisclosure which subsequently comes to light. Which would render the offer void.

What's a material misdisclosure?

amnblog

You won’t have a problem, relax.

Thrugelmir

melj16 wrote: »

What's a material misdisclosure?

In essence you would have knowingly lied on the application form or withheld information following a change in circumstances, which is paramount to committing fraud.

Did you read the declaration beneath the signature box when you made your mortgage application?

Some standard clauses are

The information given in this application and supporting sheets (if any) is true and correct and shall form the basis of any contract between me/us and the Lender which is part of the Coventry Building Society Group (the Group).

I/We declare that to the best of my/our knowledge and belief the information given on this form is true in every respect

I/We declare that I/we shall notify the Lender of any changes to the information given in support of this application prior to the completion of the mortgage applied for.


The lender covers themselves with a complete get out.

The Lender reserves the right to decline to proceed with the application at any time.

melj16

Just read my mortgage offer where it says about material misdisclosure. Nope, everything was factual on my application. I'll be pleased when I have the keys in my hand. I suppose until that happens.... Nothing is set in stone.