can my mortgage offer be withdrawn

Trying to figure out how to get a mortgage and which mortgage to choose can be a difficult task in itself, but what about if your offer gets withdrawn?

Many people find the process of getting a mortgage intimidating and stressful, and fears about having a mortgage offer withdrawn can make this even more difficult to navigate. Many people don’t even consider a mortgage offer withdrawal as a possibility in the process, so can be left on the back foot if it happens to them. We’ve brought together everything you need to know about if your mortgage offer can be withdrawn, including if a mortgage offer can be withdrawn after completion, before completion, and after exchange.

Find out all you need to know with this Octagon Capital guide to mortgage withdrawals.

Can my mortgage offer be withdrawn?

Unfortunately, it is possible for your mortgage offer to be withdrawn by the lender, however, it is uncommon. Usually, the only time a mortgage offer is withdrawn is due to a change in financial circumstances and affordability. This is typically a last resort though, as the lender also wants the business. Before this, they will try to find other solutions to the problem the lender has with your application rather than jumping straight to withdrawing your mortgage application.

With the uncertain financial climate and ever shifting interest rates, there is a chance that affordability for a mortgage can change, causing some lenders to re-evaluate your suitability for a loan and ultimately withdraw it.

can a mortgage offer be withdrawn?

Where you are in the process of your mortgage application and your personal situation can mean that the impact of a withdrawn mortgage offer can vary from person to person. Discover whether or not mortgages can be withdrawn in certain situations with some of our most frequently asked questions at Octagon Capital.

Can a mortgage offer be withdrawn after completion?

No, it is not possible for a mortgage offer to be withdrawn after completion, as the agreement has been finalised. At this point, the process of getting a mortgage has been completed and all relevant checks have been undertaken and passed, as well as the all important affordability checks.

Can a mortgage offer be withdrawn before completion?

Yes, a mortgage offer can be withdrawn before completion, as the process is still in motion. There are several reasons why this could occur, including but not limited to: credit issues, a change in circumstances, suspicious activity and the mortgage offer expiring before it has been completed.

Mortgage offers are valid for a set period of time only – usually between three and six months. After this period has ended, a new offer needs to be made which may not be as good as your previous one. This will involve all the affordability checks you previously went through, so it’s best to keep things moving with your application to avoid having to go through the process again.

If your circumstances have changed since the time you received your mortgage offer, it may be withdrawn. This includes things such as losing your job which has a significant impact on the affordability of your mortgage offer. It is incredibly important to let your lender know if your circumstances and what you can afford does change, as defaulting on repayments can  land you in debt and damage your credit score, making it more difficult to take out any loan products in the future. Your lender will be able to work with you to find the best solution for all involved in the process.

Can my mortgage offer be withdrawn on the day of completion?

Unfortunately, it is possible for your lender to withdraw their mortgage offer all the way up to the completion of the process itself. While this can be an unnerving thought, it is important to remember that by the time you reach the day of completion, all of the necessary checks will have been completed by your lender. If any problems were to arise in these checks, they should have been resolved before the day you are due to complete the process.


If you have had a mortgage offer withdrawn, it is important not to rush into a new mortgage deal without taking the time to check if it is the best offer you can find, and thoroughly check through the terms and conditions you are going to be agreeing to. Make sure you can afford to pay the monthly repayments so as not to put your credit rating at risk.

In these uncertain financial times, it is more important than ever to make sure you seek advice from a mortgage advisor about the best moves for your financial future. Only ever borrow what you know you will be able to pay back, or you could end up in financial trouble with a damaged credit score.