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what happens to mortgage offer if house purchase fall through?
apuleius
Posts: 95 Forumite
Will my current mortgage offer still be valid if I withdraw from current purchase due to issues that have risen during solicitor's enquiriesconcerning undisclosed high service charges and subsidence issues? I realise if I find another property another valuation will have to be carried out but am I able to keep the current offer which does not expire for another 4 months? What costs am I likely to incur?
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Comments
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You'll need to check the terms of the offer. In the current climate, I'd say "no" and that you'll have to make another application, for another property -and this particular product/deal might have been withdrawn by then.Warning ..... I'm a peri-menopausal axe-wielding maniac
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It is likely that you will not get the same rate with a new offer ..All my life my mother told me the storm was coming (c) Terminator 30
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Just recently had mortgage offer from First Direct. They specifically said that the offer was valid for 6 months, so that if my current purchase fell through for any reason, I would have a bit of time to find somewhere else and still use the same offer.
Different lenders no doubt will have different rules though.0
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