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Can a lender make an mortgage offer and change their minds
maxy00
Posts: 3 Newbie
i have a mortgage offer with a lender. offer was made in october 2007. I've gone through all the legalities and just about to exchange to contracts. now the lender is reluctant to go ahead with the offer.
what can i do?
what can i do?
0
Comments
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In short, yes they can. The $64m question is the reason they have pulled it. Do you know why?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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They are disputing the same documents used for making the offer submited in october 2007. saying i have dropped in their band of scoring0
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Which lender are you going with?0
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Lender is the Halifax0
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That's a strange one. Have you taken out any other credit or applied for another loan since you made the mortgage application?
Sometimes they carry out a Hunter Search, close to completion to ensure multiple mortgage applications aren't being made on the same property.
The only time I've known your situation to happen is if a mortgage offer has expired & you need a fresh one....the lender's criteria having changed since the original application was made.0 -
Credit Cruuuuunch.
A pity that Halifax did not advise you that they had tightened their lending criteria.0
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