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Mortgage offer incorrect information
Martisha
Posts: 106 Forumite
We received our mortgage offer, but there are some discrepancies.
There are some special conditions that we must fulfil before completion:
-pay off Virgin credit card balance- we do not have this card, we have a Barclaycard only. I think this is their error with the name of credit card provider
-pay off outstanding loan of £400with X lender. The balance is in fact much larger being £5k and £400 quoted is monthly payment.
what should we do and how come they issued the offer with these errors?
There are some special conditions that we must fulfil before completion:
-pay off Virgin credit card balance- we do not have this card, we have a Barclaycard only. I think this is their error with the name of credit card provider
-pay off outstanding loan of £400with X lender. The balance is in fact much larger being £5k and £400 quoted is monthly payment.
what should we do and how come they issued the offer with these errors?
0
Comments
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You can get the conditions altered easily enough.
But the second one could be a problem if affordability is an issue and you intend on keeping it.
Who did the application? Did you do it with the lender directly or via a broker?
If the lender directly, you need to speak to the lender.
If via a broker, call your broker.I am a Mortgage AdviserYou 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.1 -
It has been done via broker but he has not noticed this.ACG said:You can get the conditions altered easily enough.
But the second one could be a problem if affordability is an issue and you intend on keeping it.
Who did the application? Did you do it with the lender directly or via a broker?
If the lender directly, you need to speak to the lender.
If via a broker, call your broker.0 -
If he keyed it on wrong, he must think he has it right.
You need to speak to your broker and let them fix the issue.I am a Mortgage AdviserYou 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.1 -
ACG said:You can get the conditions altered easily enough.
But the second one could be a problem if affordability is an issue and you intend on keeping it.
Who did the application? Did you do it with the lender directly or via a broker?
If the lender directly, you need to speak to the lender.
If via a broker, call your broker.
Thanks, I have already done first thing in the morning but he did not respond to my emails and ignored my calls, that is why I posted it here as I am getting concernedACG said:If he keyed it on wrong, he must think he has it right.
You need to speak to your broker and let them fix the issue.0 -
Give them a day!
Or a few days if it's the London Country types.... But agree with ACG, this is something your broker can provide reassurance with.1 -
Were you sent a copy of the application after it was submitted? If so, what does it say about repayment of existing credit?I 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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No, I was not.kingstreet said:Were you sent a copy of the application after it was submitted? If so, what does it say about repayment of existing credit?
I was only given an illustration and the only obligation listed there is requirement of having building insurance0 -
I suggest you request a copy from your broker as you will then be able to see what was entered.I 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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It sounds like they have either incorrectly taken down your commitments or typed it on wrong - mix up maybe.
This could be very easy to sort if affordability is fine and a reasonable lender or it could become a headache. No need to worry just yet.I am a Mortgage AdviserYou 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.0
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