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Credit crunch - mortgage offer witdrawn??
dweeby
Posts: 238 Forumite
Hi,
I keep hearing (on the news) that due to the credit crunch, people who thought they had firm mortgage offers are finding them withdrawn at the last minute. Just wondering if anybody has experienced this.
We're due to exchange/complete on a house purchase during the next 7-10 days. Firm mortgage offer, and formally accepted by us - and all poised to "move".
Should we be worried??
I keep hearing (on the news) that due to the credit crunch, people who thought they had firm mortgage offers are finding them withdrawn at the last minute. Just wondering if anybody has experienced this.
We're due to exchange/complete on a house purchase during the next 7-10 days. Firm mortgage offer, and formally accepted by us - and all poised to "move".
Should we be worried??
Andy
The older I get, the better I was...
The older I get, the better I was...
0
Comments
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As long as the offer letter hasnt expired then you are probably statistically unlikely to have a problem. If it is likely to expire then the lender may look at your case again if you are high risk and may withdraw. If you are not high risk then you have nothing to fear.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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I have not heard of this on the high street, but sub prime I have.
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how long does a mortgage offer last for? is it 3, 4, 5 6 months?0
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depends on lenderI 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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