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How long to get revised mortgage offer reissued?

6 replies

Whathewhatnow · 08/06/2020 09:48

My house purchase has been dragging on... the vendors have now renegotiated the purchase price on their onward purchase and consequently needed to have their mortgage offer reissued. I don't know who their lender is.

If you've had to do this recently (applied for a revised offer), how long did re-issue take?

Was assured they were all ready to go as soon as lockdown was initially eased. Several weeks down the line I'm technically homeless (my sale completed already) and getting increasingly fed up and impatient! The reissue would be quick, or so I was told....

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Spickle · 08/06/2020 09:57

Usually around 5 working days, but does depend on the lender obviously! I don't think many people take this into account when "renegotiating" so close to exchange! The contract and transfer will need to be amended too.

Whathewhatnow · 08/06/2020 10:10

Spickle, thank you so much. It's been 6 working days now.... not that I'm counting! Vendor's sol is on the case amending the contracts and transfer deed.... but of course former at least is dependent on how speedy their vendor/ vendor's solicitor is.

I think they did take it into account, but that they didn't bloody care! I'm so cross. they assured me that they were ready to go straight after restrictions were lifted. 4 weeks later....... grrrrr.

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Whathewhatnow · 08/06/2020 10:14

And in the meantime I'm in a succession of (expensive) Airbnbs... I know that was my decision but I couldn't afford to lose my very patient, good buyers...

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Whathewhatnow · 08/06/2020 13:18

Offer has come back this morning. Now on to wrestling an exchange/ completion date sooner rather than later hopefully.

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Spickle · 08/06/2020 13:50

That's great! All the best in your efforts to complete in the not too distant future!

Whathewhatnow · 08/06/2020 14:44

Thanks Spickle. Can't come a moment too soon ....

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