Mortgage offer has now been selected for audit.

MrsYa8

MA emails asking for more information following an audit from the lender. There has been some confusion over statements of a DMP. 

All information that had been originally supplied on application was 100% accurate. 

I’m so worried that they could reject us now and we are about to exchange contracts any minute. I’m waiting to hear back from MA. 

What should I do about exchanging? 

kingstreet

Wait until the audit is over.

MrsYa8

kingstreet said:

Wait until the audit is over.

Exchange of contracts had already happened at the time of me phoning the solicitor 😔

Thrugelmir

Audits are frequent occurences and often go unnoticed. Your lender however won't be releasing the funds until the audit is satisfactorily concluded. 

[Deleted User]

An audit post exchange is incredibly rare.  What lender is it? 

MrsYa8

Deleted_User said:

An audit post exchange is incredibly rare.  What lender is it? 

It’s Kensington. We gave the authority to exchange this morning and then received any email from our broker asking to clarify something on the DMP statement as our application had gone to audit, The exact same question was asked on application. 

By the time I phone the solicitor to ask them to hold we had already exchanged. 

Our broker didn’t seem too worried about it and told us it’s quite normal to audit. But we are at risk of loosing our deposit money if they pull the offer. It’s all so worrying. 

amnblog

An audit is not driven by concerns about your individual case.

It is part of a quality assurance process to satisfy the regulator. Cases are selected at random and checks made that the correct processes have been observed by the Lender’s team and all necessary info is on file.

In your case they want to add some information to the file. There is no intention to rethink the decision.