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What happens to mortgate offer if prospective house purchase falls 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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It depends on the lender.
Some will accept a change of property and will ask for new survey fee, others will fully underwrite again.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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