Will my mortgage offer be pulled in the event of a second lockdown

[Deleted User]

GrumpyDil said:

Hm. Pretty certain that your solicitor could drawdown funds in anticipation of exchange and completion on a specific date. We did exactly this on our last house purchase. 

I thought it was dependant on the lender. 

davidmcn

DeletedUser said:

GrumpyDil said:

Hm. Pretty certain that your solicitor could drawdown funds in anticipation of exchange and completion on a specific date. We did exactly this on our last house purchase. 

I thought it was dependant on the lender. 

No. Lenders don't care whether or when you exchange, that bit is nothing to do with them.

shakAFC

Interesting. So if I was anticipating on exchanging say Friday coming, I would see if the solicitors could draw the funds tomorrow?

ScottL45

Just to go back to the original question of this thread.  In light of the second lockdown, does anybody think that lenders may manually go back over existing mortgage offers with a view of pulling ones that they may deem to be now too risky?

davidmcn

ScottL45 said:

Just to go back to the original question of this thread.  In light of the second lockdown, does anybody think that lenders may manually go back over existing mortgage offers with a view of pulling ones that they may deem to be now too risky?

Not sure what difference it makes to risk really. The more troubled employment sectors will already have been taken account of. Anybody with any sense will have predicted restrictions continuing or recurring for some time to come.