Sorry if this isn’t the right place for this, but I’m not sure where is.
My mortgage fixed rate ends in Dec and so I signed up to a new 5 yr fixed rate a few days back.Its all gone through fine at 60% loan to value and the documents have come through to me but I’m now slightly worried because of todays rate announcement.
Could the bank change their mind and say they aren’t willing to honour the rate they offered or are they tied into it now that it’s gone through even though it’s only effective from Dec? They literally said on the phone that they could only guarantee the rate if I signed that day because it could go up any time and is very volatile but given it’s potentially sky rocketing next year it’s got me worried they might change their mind
2 comments
If you’ve signed and agreed their offer it is now a legally binding agreement, they can not withdraw it
>They literally said on the phone that they could only guarantee the rate if I signed that day
Did you sign that day?