Mortgage Help?

Guest 0.10 Dollars($)

I have signed a mortgage in principal agreement with my mortgage advisor to get a mortgage which at the time was the best on the market. However, as it took about a month for the actual mortgage offer to arrive, the interest rate on the offer has increased, and would work out to cost us about £700 over the lifetime of the agreement. This is despite the mortgage advisor guarantee us upon signing the mortgage in principal agreement that the rate was then secured. What can I do about this and who can I complain to?

evolovik26 · Posted: Tue Jan 29, 2008 8:34 am Post subject:

what you can do now?
probaly nothing. If you bought the property you own it at whatever terms you have sighned up for. If you havent bought it you can walk away from the deal. Any guarantee you had was based on the validity of information you have provided and the loan officer you work with. In the future it would be advisable to get a letter stating that the rate i locked, for how long, and at what rate.

larry · Joined: 27 Jun 2007 Posts: 3328 473.40 Dollars($)

Hi,

I agree with Eugene that you can't do much about this. If you are not satisfied with the program you can walk away and shop for other programs of your liking.

What kind of mortgage are you looking for?

Best of luck.

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