Will My Mortgage Offer Rate Go Up?

mrfixituk44

I am waiting for my solicitor I instructed to send their client care letter before I can see my offer! With all this faffing about will my interest rate go up. I am sure the building society said I have around 9 days to sign it.

thomas1112

There have been a few threads with similar questions recently. Once you have received a formal mortgage offer it is binding on the lender. As long as no new information comes to light about your circumstances or the property that was not previously declared the offer won't be withdrawn.

If your solicitor is holding a copy of your mortgage offer the rate won't change from what you would have reserved at the time of submitting the application. You should be able to get a copy of your offer from your lender or broker if you are using one.

flashg67

I'd add that mortgage offers do have expiry dates, so as long as the mortgage completes before this date then it will be the rate on your offer

kingstreet

thomas1112 said:

Also meant to add there is nothing to "sign" or accept as such. The offer just sits there until your solicitor requests the funds, at which point you are deemed to have accepted the offer.

Some lenders do have signed acceptance requirements.

mrfixituk44

Thanks for the help! Although I am not sure if I should have gone fixed fee. I don't like the sound of unforseen complications and the title being in a marketable state in the paperwork. At £220 an hour. The house was my dad's put in a trust as was ill with dementia. My sister and I joint tenants in common. We just want a simple transfer into my name and funds.

Do solicitors charge when paperwork signed or that I click the instruct button!?

thomas1112

kingstreet said:

thomas1112 said:

Also meant to add there is nothing to "sign" or accept as such. The offer just sits there until your solicitor requests the funds, at which point you are deemed to have accepted the offer.

Some lenders do have signed acceptance requirements.

Thanks, have deleted my original comment for the avoidance of doubt.

Tom_Ballard

Our mortgage had a period of 6m for us to complete from when the formal offer came through, so I wouldnt be too concerned... if you are very worried though you can contact the lender directly