Mortgage offer - can it be withdrawn?

[alwayshaveaquestion]

Mortgage is due to expire in December. Was planning to stay with provider and My remortgage offer last month from Platform, paperwork sent back yesterday. Mortgage offer for 3 months so well within timeframe, remortgage offer not due to take place until Dec. Can they withdraw offer now rates have gone up? Sorry if it seems a silly question.

Did you pay the fee yet? My understanding, which could be wrong, is that you are only safe once you've paid the fee.

The fee is being added to the balance, this is so stressful

No the offer received stands op until the offer expires then if the rates have already gone up they're likely to offer you another mortgage but at a higher rate x

Ps you only pay the fee on completion x

Or sorry as you've said it can be added to the overall mortgage x

Thanks so much!

If you look at the small print on the offer they will state conditions under which they can withdraw it.

We are in a similar boat. The reasons are mostly: if they believe that your circumstances have changed, or the property has. In our offer there is some more vague ‘legalese’.

We are paying an early repayment charge anyway, so are bringing forward the completion date because we are big worriers!

In reality I would say they are unlikely to withdraw an offer without very good reason.

Yes they can withdraw it - all mortgages can be withdrawn even after exchange but there’s a list of reasons why they can do this so it would need to meet criteria.