Mortgage Interest Rates

dubal · 06-05-2022 4:32pm #1

If you get a Loan Offer, are the rates fixed for the duration of the offer or are they selected as the prevailing rate at drawdown?

Does the lender have any flexibility to change its mind?

awec · 06-05-2022 4:46pm

I think the rate gets locked in when you sign the full mortgage loan pack with your solicitor.

If I'm remembering correctly, that is...

kodak · 06-05-2022 7:39pm

Yes rate at drawdown

Sierra Oscar · 06-05-2022 8:14pm

It's usually written into the T&C's that the rate can be altered up the point of drawdown.

howiya · 07-05-2022 12:37am

Yeah was looking through ours the other day. Rate is not guaranteed or words to that effect

slystallone · 19-05-2022 3:47pm

Does the solicitor's pack usually get emailed or posted to the solicitor?

awec · 19-05-2022 5:02pm

Post.

Nothing gets emailed in this game.

slystallone · 20-05-2022 9:11pm

Do you need the life and home insurance sorted before you sign the contracts?

JohnnyChimpo · 21-05-2022 10:01am

Yes, home insurance, life insurance, and the solicitor sends a Deed Of Assurance to the bank to assign the life insurance policy to them

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