Banks pulling mortgage offers

dbg1986

Hi all

i know no one can see into the future so I am asking everyone’s opinion or expienrance .

We are 5 sleeps away from the completion date next Friday.
we are both worried hsbc may pull the mortgage offer before they release funds due to rumoured extra restriction being put in place by the government due to covid as banks can get very cold feet with the current climate.
i know this isn’t the same as mortgages were pulled back in March due to the strick lockdown.

do you think we should be safe??

exchange has been done and covid waver signed by seller.

dunstonh

we are both worried hsbc may pull the mortgage offer before they release funds due to rumoured extra restriction being put in place by the government due to covid as banks can get very cold feet with the current climate.
i know this isn’t the same as mortgages were pulled back in March due to the strick lockdown.
do you think we should be safe??

We can not answer that as we don't know how close you are pushing limits on lending criteria.     Even during the credit crunch when offers were being pulled at a higher rate than they have been during this period, they didn't pull everyone's offer.  They pulled the ones that failed to meet their revised criteria.   And it wasn't that common that you should be worrying about it.

Thrugelmir

Lenders will control their risk appetite. Withdrawing offers won't be one of them though. Lenders are already looking down the road and positioning themselves accordingly. 

dbg1986

Thanks everyone for your answers