Do banks make mistakes with mortgages, or is my buyer telling fibs?

[CatAndHisKit]

After dragging it out for months, buyer told my agent 10 days ago that his mortgage will be finally granted end of this week 'at latest'.
Come Friday, he claimedthat mortgage has now gone through underwriters BUT the lender made amistake with how many years the term is. And that they'll fix it now. This was Fri morning and no it wasn't fixed by the end of the day. Assuming it was only a typo in the docs it shuld haev been easy.
I'm worried the error was that they granted it thinking he applied for a shorter term, which mean reviewing it.

But my main question is, does ever happen? whether it's a typist error or the approved on the wrong basis by mistake - you'd think unlikely. Or is it yet more fibs while he's still playing for time?

*does this ever happen?

Errors can happen with anything, in any organisation.

I'm worried the error was that they granted it thinking he applied for a shorter term, which mean reviewing it.

If it’s this, at least a longer term is more affordable so it’s unlikely to cause an eligibility issue.

Input error on the paperwork even easier to put right.

Any particular reason to think he is being dishonest?

thanks, Ricki.
Yes, he's been dishonest throughout the process, was supposed to be a cash buyer originally, then also various postponements and mot telling us what the reasons were behind it. He obviously works to his own agenda only.
But what you said makes me feel hopeful - would you say any such errors can be fixed in a day or two? How long to give him - he was saying they may correct it same day but didn't happen.
I thought a longer term (fixed!) mortgage is harder to get due to low interests currently.

Yes, he's been dishonest throughout the process, was supposed to be a cash buyer originally

Oh wow. That’s quite a journey. That doesn’t sound good.

What does your solicitor say? You are paying them to advise you and IME they are usually pretty good at sussing out the timewasters.

Don't forget this week has been one of the busiest weeks in history for people trying to complete ahead of the stamp duty deadline. While actually changing the term might take a few minutes, he'll be in a queue of thousands of transactions, and they should be prioritising issues with completion over the last and next week.

Yes mistakes can happen but I’d be more concerned about the general faffing around, can you tell your solicitor to give them a massive push to stop stalling and set a deadline to see some movement?

Be prepared to put it back on the market if necessary.

Mistakes do happen but if he has form for lying I would be cynical. We had similar happen with buyers-buyer and what we did is go via solicitors and get things in writing. In our case it turned out OK just a delay but its hard to know. Ask estate agent advice as well, its in their interests to have a viable deal as well.

Yes, I would be suspicious of the faffing as well. We had a buyer who started out as cash then needed mortgage, then tried to drop the price when we were on the point of exchange. After 10 months of him messing us about we told him to stuff the purchase and put the house back on the market. Sold two months later to a genuine cash buyer.

I understand that banks aer prioritising June completions, but it's been over a mont since our price adjustment - and if they did make an error (and quick to correct) than the bank should not put this back in the queue.
We;ve agreed a completion date which is in two weeks - he told that to the bank about a week ago and tdhey promised (according to him) that this Fri would be the latest.
I'm really not keen to go back on the market despite the fact I ma ywell get a better price. I'm buying too and the comopetion date was agreed with my vendors (no further chain but we've all been planning the move for that date) - and I just can't face MONTHS of uncertainty again even if I get an offer fast - which is limited to no-chain people.

It's the horrednous systen that you wouldn't know until exchange which takes months. He's been messing me about now also for 10 months, Dramalady - so I'm absolutely desperate to sell and had to borrow a lot - sale was originally suposed to happen last Dec / this Feb latest. We've been back on the market twice but very briefly - couldn't find a reliable buyer, and everu time he moved another step forward so we took it off market again, then he stalls again.

In hindsight of course I should have dropped him back i April after this happened - and the agent should have been a lot ,more aggressive with him.

porridgecake my solicitor does not enter into the pusshing him along process - the agent does, and they've been good in terns of persistence and being on his case but not tought enough. They have moreexperience - I never came across such a buyer before (sold twice so not hugel experienced) so the agent should have advised on this kind of buyer. Solicitor does right to his - but it never speeds anything up - his solicitor is vert ad at responding, but it's mainly him, as they do what he tells them to, including to be vague, clearly!

That's why I wonder how long does it take to correct this - if a day or two, then we will go back on the market if nothing happens Mon/Tues.

Sorry for all the typos! Had a vaccine yesterday and have a foggy head today.

They'll have had to reissue his mortgage offer. I had a similar issue with mine. It took 3-4 days to do, with the mortgage broker chivvying it along.

Our bank made so many errors with our mortgage. In the end we had about 10 offer letters. This was April this year. I think many mortgage departments are stretched due to COVID / stamp duty holiday.

ah ok, Sausage- I can deal with 3-4 days. The main thing is that they wouldn't need to go through extra approvals due to it being fixed for longer term - I hope it was just a typing error but approved on the basis of longer term.
Thinking that's mad! how long did it take to get it right, I wonder.