How long does it take to amend mortgage offer?

Hi! Had a mortgage offer for a couple of months, found some issues with the house so sellers agreed to lower the price a little. Bank informed of this by both solicitor and broker 2 weeks ago, but amended mortgage offer still not received. Hard credit check done when originally applied and then again a few days ago. How long does it normally take? The loan amount remains the same (below 50% LTV) so nobody understands what's taking so long. Bank knows we're about to exchange and  need the offer sorted asap (broker keeps regularly chasing it but is getting no answers). We're about to miss the agreed exchange date (and most likely the completion date as well) unless the bank sends the new offer through by tomorrow. Any advice on what to do? Thanks!

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  • user1977
    user1977 Posts: 13,343
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    You might get more useful advice if you tell us who "Bank" is!
  • ACG
    ACG Posts: 23,622
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    It takes around 1-3 working days in most cases. Some lenders the broker may even be able to do it themselves.
    As above, who is the lender? 
    If I were the broker, I would be calling my account manager/threatening to make a complaint. 
    I 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.
  • Yorkie006
    Yorkie006 Posts: 193
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    edited 24 February at 8:27PM
    ACG said:
    It takes around 1-3 working days in most cases. Some lenders the broker may even be able to do it themselves.
    As above, who is the lender? 
    If I were the broker, I would be calling my account manager/threatening to make a complaint. 
    Well, it took over 3 weeks and when I was chasing the broker about it, he basically told me that all banks are busy now and I should not have accepted the reduced price so close to exchange (I could understand that, if the change happened at last minute but 3 weeks is a long time in my opinion). It was a well know high street bank with a red & white logo, btw. The exchange date was missed. Still have no idea what's going to happen next but the sellers are very unhappy to say the least.
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