Accepted a remortgage offer too soon

The_Palmist

Hi MSE,

My mortgage deal was set to expire in May and I accepted a renewal deal from Santander in January.  Now the rates have fallen and my offer letter says it cannot be changed. It is almost impossible to get through their phone lines and I am wondering if anyone managed to change their deal once accepted.

Thanks in advance

Nailer99

I’d be surprised if you are legally bound before the start of the mortgage but that depends on what contract you have signed. Can you give more precise info about the wording of your letter. “Offer cannot be changed” does not mean the same as “contractually obliged to take it”. For example, you might still be free to port your mortgage to another lender.

Also, was this not made clear to you when you signed whatever you signed for the new deal?