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How long can first time buyer arranged mortgage offer last
Val75
Posts: 35 Forumite
My grandson was buying a house first time buyer just before the mortgage interest rises, the people he was buying off have dropped out before contracts were signed, why can't he keep his original mortgage offer whilst trying to find another house asap
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Comments
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In the majority of instances he can.
The first trick is not the cancel the current application. Then he should speak to his Lender or Broker.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.1 -
Presumably because he applied to a lender not accepting a change of property? Nationwide perhaps?Val75 said:My grandson was buying a house first time buyer just before the mortgage interest rises, the people he was buying off have dropped out before contracts were signed, why can't he keep his original mortgage offer whilst trying to find another house asapI am a mortgage broker. 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.0
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