Finally buying a house and in a panic about headlines. Please calm me down

[Wowijustgiveup]

We have been saving a deposit for a house for years. We are finally in a position to buy and we paid the deposit last week. We are supposed to be completing on the 7th October.
Todays headlines have sent me into a total panic (full on panic attacks) because i am convinced the bank will withdraw the offer before completion.

We have had a terrible few years and tbh i cant believe something GOOD could happen to us i havent packed yet even though we are technically meant to be moving in less than two weeks.

Is todays news a risk to us? Are banks withdrawing offers to people who are mid purchase?

would you be confident enough to start packing at this stage?

Do you mean you've already exchanged? I'm not certain but I think this means funds have already been requested from your mortgage provider. It won't be pulled. Hope I'm correct.
I'm pretty sure the headlines are referring to new applications anyway.

Do you have final confirmation of your mortgage offer?

Have you exchanged? Then no it won’t be pulled.

Yes we have confirmation if the iffer we have signed the paperwork etc and exchanged and paid deposit.

If you’ve exchanged you’re fine. Good luck, enjoy your new house, and maybe tune out from the news for a bit.

Yes, that's fine. Hope you've fixed for as long as possible!

You'll be fine. It's new applications.

How much will the mortgage cost you? What is the rate you are getting and how much spare money do you have at the end of the month?

Golden its fixed for 2 years i believe hopefully thats ok. The mortgage is less than our current rent each month and even if it goes up it will still hopefully be affordable. We have a large family including teenagers so we went got a cheaper house with the intention that we could help them through uni etc. No idea if that was a good choice or not - time will tell i suppose!

Yes you have been smart not maxing out your mortgage. You should be fine.

You’re golden then, good to go.. enjoy the house and congrats!

Presumably you'll pay reduced stamp duty?