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Can bank (Barclays) withdraw mortgage offer?
englandcrew
Posts: 155 Forumite
Hi, my current mortgage rate ends on the 31st December. I have an offer from Barclays for a remortgage to them. I have completed all the required paperwork to date and am now just waiting.
Can Barclays withdraw the rate they offered me?
Thank you
Can Barclays withdraw the rate they offered me?
Thank you
0
Comments
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@englandcrew They can withdraw the offer for a limited set of reasons - primarily suspicion of fraud or a material change in applicant's circumstances.
If you're worried about them withdrawing the offer simply due to market conditions, that is very very unlikely to happen.englandcrew said:Hi, my current mortgage rate ends on the 31st December. I have an offer from Barclays for a remortgage to them. I have completed all the required paperwork to date and am now just waiting.
Can Barclays withdraw the rate they offered me?
Thank youI am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
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In theory, yes. But I think we're still to hear of any (mainstream, at least) lenders doing that.2
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There's an article in the Telegraph this afternoon claiming this to be happening, although the £3m off-plan example given isn't very convincing:user1977 said:In theory, yes. But I think we're still to hear of any (mainstream, at least) lenders doing that.
https://uk.finance.yahoo.com/news/homebuyers-lose-deposits-lenders-pull-100000960.html?.tsrc=fin-srch1 -
Thank you all0
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