Mortgage Withdrawn due to temporary reduction in wage???

collywobbles9_7

We were hoping to sell our house and move this week or next .... but it’s fallen through.  Does anybody know if a mortgage lender can accept a Pre-approved mortgage application, take money off the applicant for “valuation fees”, and at the last minute refuse to offer the mortgage because wages have been temporarily reduced (until Dec-20) because of Covid.  This wage reduction information was disclosed on the day of the pre-approved mortgage application (start of September), and yet today the lender has “changed their policy so they won’t lend to anybody who has taken a reduction in wage”.  Why would they change the goal posts .... in the week that the buyers were hoping to actually move?  Doesn’t feel like this is a fair outcome, it’s been totally misleading and the applicants are now out of pocket and cannot buy the house.  Is the Lender allowed to do this?

[Deleted User]

Complain and outline why you consider they haven't treated you fairly.

Thrugelmir

What's a " Pre-approved mortgage application".   An AIP is not a mortgage offer never has been.  Decision will be based on the full facts as at the time of application.
With a reduction in wages there's no guarantee that they'll be reinstated. As safe to assume that the employer is struggling financially. December being a challenging time of year for businesses and a time when many cease to trade.