Mortgage offer

Carl2510

sambaj said:

Carl2510 said:

I think you need to calm down. And just think for a minute, you’re in a secure job and have by the sounds of it your finances in place. Stop panicking and just exchange when the time comes.

You are right, I m putting down 25% deposit as well, I just need to stop listening to people,  I stressed at job all day and now at home I m stressing about my mortgage offer, 

I have a 20% deposit buying a new build due to be completed March 21 and I’ve already exchanged I’ve not even thought about my offer being pulled I work in the food industry so I’ve worked throughout the Pandemic. And I’ve seen lots of people on here get houses who have been furloughed.

sambaj

Carl2510 said:

sambaj said:

Carl2510 said:

I think you need to calm down. And just think for a minute, you’re in a secure job and have by the sounds of it your finances in place. Stop panicking and just exchange when the time comes.

You are right, I m putting down 25% deposit as well, I just need to stop listening to people,  I stressed at job all day and now at home I m stressing about my mortgage offer, 

I have a 20% deposit buying a new build due to be completed March 21 and I’ve already exchanged I’ve not even thought about my offer being pulled I work in the food industry so I’ve worked throughout the Pandemic. And I’ve seen lots of people on here get houses who have been furloughed.

Have you ever heard someone’s offer being withdrawn, 

Meh123

If during the current circumstances you’ve managed to secure a mortgage then you’re clearly not waving any red flags at your lender.
They don’t just withdrawer offers without a valid reason, I’ve only ever seen a few withdrawn (used to work in conveyancing)....the reasons being....
1. Sole applicant lost his job.
2. Buyer took a 30k loan post offer and pre completion.
3. Buyer was sentenced to 15years in prison (so don’t think he was going to exchange/complete the purchase anyway 😂)

sambaj

Meh123 said:

If during the current circumstances you’ve managed to secure a mortgage then you’re clearly not waving any red flags at your lender.
They don’t just withdrawer offers without a valid reason, I’ve only ever seen a few withdrawn (used to work in conveyancing)....the reasons being....
1. Sole applicant lost his job.
2. Buyer took a 30k loan post offer and pre completion.
3. Buyer was sentenced to 15years in prison (so don’t think he was going to exchange/complete the purchase anyway 😂)

😂😂 you made me laugh, no I don’t fit any of that criteria, all of my patients were very happy as well so won’t lose my job

Getting_greyer

Hi mate,  I pretty much was stressing about the same thing last week,  but then I recieved the paperwork to sign from the solicitor and there was a covid rider clause in there.  This basically said if any party can't complete because of direct or indirect causes of covid- such as economic meltdown, then after a certain period the contract elapses and no party has a claim on each other.  

Carl2510

sambaj said: it

Carl2510 said:

sambaj said:

Carl2510 said:

I think you need to calm down. And just think for a minute, you’re in a secure job and have by the sounds of it your finances in place. Stop panicking and just exchange when the time comes.

You are right, I m putting down 25% deposit as well, I just need to stop listening to people,  I stressed at job all day and now at home I m stressing about my mortgage offer, 

I have a 20% deposit buying a new build due to be completed March 21 and I’ve already exchanged I’ve not even thought about my offer being pulled I work in the food industry so I’ve worked throughout the Pandemic. And I’ve seen lots of people on here get houses who have been furloughed.

Have you ever heard someone’s offer being withdrawn, 

Only for specific reasons, as everyone has already mentioned

Lost there job, got a loan out before completion etc....

sambaj

Getting_greyer said:

Hi mate,  I pretty much was stressing about the same thing last week,  but then I recieved the paperwork to sign from the solicitor and there was a covid rider clause in there.  This basically said if any party can't complete because of direct or indirect causes of covid- such as economic meltdown, then after a certain period the contract elapses and no party has a claim on each other.  

I don’t have this clause but I m not allowing lots of time between exchange and completion, just 6 days, 

Meh123

sambaj said:

Meh123 said:

If during the current circumstances you’ve managed to secure a mortgage then you’re clearly not waving any red flags at your lender.
They don’t just withdrawer offers without a valid reason, I’ve only ever seen a few withdrawn (used to work in conveyancing)....the reasons being....
1. Sole applicant lost his job.
2. Buyer took a 30k loan post offer and pre completion.
3. Buyer was sentenced to 15years in prison (so don’t think he was going to exchange/complete the purchase anyway 😂)

😂😂 you made me laugh, no I don’t fit any of that criteria, all of my patients were very happy as well so won’t lose my job

Haha I’m glad. Seriously though lenders don’t just withdrawer offers on a whim, there has to be a serious reason for it to happen. Yes we need the lenders to ‘help’ us by giving us the loan but they also make a lot of money from the process and they won’t give those profits up and withdraw their offer unless something significant happens. I know it’s hard but try not to worry, you’re in a very fortunate position right now.

sambaj

Meh123 said:

sambaj said:

Meh123 said:

If during the current circumstances you’ve managed to secure a mortgage then you’re clearly not waving any red flags at your lender.
They don’t just withdrawer offers without a valid reason, I’ve only ever seen a few withdrawn (used to work in conveyancing)....the reasons being....
1. Sole applicant lost his job.
2. Buyer took a 30k loan post offer and pre completion.
3. Buyer was sentenced to 15years in prison (so don’t think he was going to exchange/complete the purchase anyway 😂)

😂😂 you made me laugh, no I don’t fit any of that criteria, all of my patients were very happy as well so won’t lose my job

Haha I’m glad. Seriously though lenders don’t just withdrawer offers on a whim, there has to be a serious reason for it to happen. Yes we need the lenders to ‘help’ us by giving us the loan but they also make a lot of money from the process and they won’t give those profits up and withdraw their offer unless something significant happens. I know it’s hard but try not to worry, you’re in a very fortunate position right now.

Thanks a lot , I feel much better,