Mortgage offer withdrawn after exchange, can I still complete next week?

[Miffed1233]

Exchanged contracts Thursday for completion next Friday. Buyer below me and I’m buying ex rental which is at top of chain

randomly bank withdraw offer Friday afternoon, 24 hrs after exchanging)saying credit rating changed therefore affordability impacted. Have a call at 9am Saturday. Wtf absolutely nothing I can think of that would have changed and my Experian score is very strong still. Any advice - is there any way I can still complete in 6 days?!

any solicitors or bankers on here?

Great outcome but I can only imagine what a stressful weekend this was.

Wishing you a smooth completion!!

What a relief for you after a very stressful few days.
I hope everything else now goes smoothly for your move.
Wishing you all the best in your new home!

Great news. Hope the move goes well!

That’s good news, I’ve been following this thread, moving is stressful enough without the problems you’ve been having. Hope it’s all plain sailing from here on in.
🤞😊

Fantastic news OP. I’m so gutted for you that this all happened on a Friday so you had such a stressful weekend but I’m glad it’s sorted.
Fingers crossed for smooth sailing here on in

That's really good news, good luck with your move, hope you soon settle in.

Pleased for you OP.

Absolutely brilliant op

Great news OP. Happy for you .

Amazing news! Xx

Thank you for updating. What a weekend! When do you complete?

I'm so glad it's sorted! You seemed pretty calm in your posts but you must have been ridiculously stressed and I don't imagine you've got much sleep over the past few nights! Hope the rest of the move goes well x

Phew! Hope everything goes smoothly from now onwards

Once you’re moved, raise a formal complaint & note the undue stress this caused you. You’ll pay enough to them in interest over the years.

If you have the energy, this is a good idea OP.

You’ve been really calm on here but you must have been incredibly stressed. The advisor has already told you that only a huge change in your circumstances should have triggered the offer being withdrawn so something clearly went wrong, and that’s not ok.

We had a massive issue with Barclays dicking around at the end - we couldn’t get an answer from them in time so bought without the mortgage (luckily we were able to - we then got a mortgage for the renovations elsewhere post-purchase). I really, really wish I’d pursued a complaint as we were told a different thing every time and they couldn’t seem to re-approve the mortgage offer in time, it just kept bouncing around internally.

They should have a process for checking offers that are pulled at a late stage - it reeks of sloppy automation and no manual safety checks.

Agree. What a shame they won't offer a half-price discount, OP has earned it!!

Great news. Thanks for updating so promptly.

Great news about the offer. I think we will all breathe a sigh of relief for you. 😊

Great news OP, I am sorry you had to go through this though

1 Fabulous.

Amazing news, I hope the move goes smoothly!

Have you paid your credit card down? I noticed when mine is almost paid off my credit rating drops but if I put another item on it goes up again.

Could you please share your experience with Barclays regarding final checks before completion? Thank you

Well done, OP. I was following your thread and thinking how awful.

Annoyingly something in a similar vein but not as critical a stage- happened to my DC late yesterday. Their lender has announced that the £450k house they are buying should only be valued at £420k.
They are a FTB and it's not in a chain. They are bricking it today having to go back to the EA and seller and say that the price needs to come down or they have to walk away. DC has already spent money on survey and searches and legal fees and feels sick.

This is common OP, there will be a way forward I hope.