CompareMortgageRates.co.uk

  Compare over 10,000 mortgages and apply online

Your home may be repossessed if you do not keep up repayments on your mortgage.

WARNING: Buy to Let mortgages are typically not regulated by the FSA.

site by janric.co.uk

Mortgage Offers Reversed

Mortgage Offers Reversed

Mortgage Offers Reversed

It is claimed that 10% of property deals in the last month have experienced problems with the lender between exchange and completion.

The problem is believed to be affecting the subprime market - those with poor credit histories. The home buyers have exchanged contracts thinking their offer is secured and can be losing their 10% deposits, costing them thousands of pounds.

Worse still, buyers withdrawing from the sale could be sue for breach of contract. The lenders are not necessarily technically withdrawing offers, but are finding queries that delay completion or maybe using points from the small print to prevent completion.