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Santander Formal Offer Withdrawn 2 weeks after issued

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braindead

New Member
Hi all


I am looking for a bit of advice if passable. I was contacted by my Solicitor and Mortgage Broker that Santander has withdrawn their Formal Mortgage offer to us on the Grounds of a Head Office Audit finding debt at another addresses.


Our Mortgage Broker has asked for more detail and is looking to appeal this. We have been at the same property for 7 years now and can’t see anything on our Credit files to the affect.


My Partner had debt to Abbey National back in 2001. This has since way been written off in the past.


If that was the case, I assume this would have been picked up during the application stage or am I missing something?


On their terms of the Formal offer it states. They have the Right to with draw if There has been a material change to the facts and circumstances relating to your loan application.


We have been 100 % truthful with them and can’t see how they can do this. We have made payments to Mortgage Broker. Also, we will incur Solicitors fees now.
 
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diyhelp

Active Member
Will they not give you further details on the “debt” they have found? If you can prove that this information is incorrect or out of date you can still fight your case. However, historically once a mortgage lender has withdrawn an offer it can be difficult to get it reinstated. Could you potentially look elsewhere?
 
B

braindead

New Member
Will they not give you further details on the “debt” they have found? If you can prove that this information is incorrect or out of date you can still fight your case. However, historically once a mortgage lender has withdrawn an offer it can be difficult to get it reinstated. Could you potentially look elsewhere?
Yes our Mortgage Brooker is looking else where while the enquiries go on.

I now fear the seller will distance their self from us as we may need to ask for more time and use a different solicitor due to the lending panel.
 
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diyhelp

Active Member
Would it be sensible to open up to the seller and explain you are arranging alternative finance? Do you have anything to lose with this strategy?
 
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