Can a lender make an mortgage offer and change their minds

maxy00

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?

homer_j_3

In short, yes they can. The $64m question is the reason they have pulled it. Do you know why?

maxy00

They are disputing the same documents used for making the offer submited in october 2007. saying i have dropped in their band of scoring

_Andy_

Which lender are you going with?

maxy00

Lender is the Halifax

NeilQuinn

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.

SouthCoast

Credit Cruuuuunch.

A pity that Halifax did not advise you that they had tightened their lending criteria.