Can my mortgage offer be withdrawn?
Yes, a mortgage offer can be withdrawn before completion. An offer is based on your circumstances and the property at the time, and lenders can withdraw or change it if something material changes: a job or income change, new debt or adverse credit, a down-valuation, the offer expiring, or missing or wrong information coming to light. Until completion, the money is not guaranteed, so keep everything stable between offer and completion.
An offer is not the finish line
A mortgage offer feels like the hard part is done, and mostly it is, but the offer is conditional until completion. Lenders make the offer on the information and circumstances at that moment, and they can carry out final checks right up to completion. If something material changes, the offer can be withdrawn or altered. Understanding that is part of being mortgage ready: readiness does not end when the offer arrives.
What can undo an offer
- A change in your circumstances: changing jobs, a drop in income, or going self-employed.
- New debt or adverse credit: a new loan, card or car finance, or a missed payment appearing.
- A down-valuation: the property valuing lower than the price can change or withdraw the offer.
- Expiry: the offer lapsing before completion, common when a purchase or a new build drags on.
- Missing or wrong information: and, seriously, any misrepresentation or fraud, which voids the offer.
How to protect your offer
Between offer and completion, keep everything as stable as you can. Avoid changing jobs, taking on new credit, or making large purchases on finance. Keep every payment on time, avoid large unexplained movements of money, and respond quickly to any final requests from the lender or conveyancer. If your circumstances genuinely have to change, tell your broker or lender early rather than hoping it goes unnoticed.
Common questions
Can a lender withdraw a mortgage offer?
Yes. A mortgage offer is made on the basis of the information and circumstances at the time, and lenders reserve the right to withdraw or change it before completion if something material changes. It is not a guarantee of the money until completion actually happens.
What most commonly causes an offer to be withdrawn?
A change in your circumstances (a job change, a drop in income, taking on new debt), new adverse credit appearing, a down-valuation of the property, the offer expiring before completion, or the lender finding information that was missing or wrong. Fraud or misrepresentation will also void an offer.
What should I avoid between offer and completion?
Do not change jobs or reduce your income if you can help it, do not take on new credit or big purchases on finance, do not miss any payments, and do not let large unexplained sums move through your account. Keep everything stable and be ready to answer any final checks.
How long is a mortgage offer valid?
It varies by lender, and the expiry date is printed on the offer itself, so check that first. Many offers run for a few months. If completion is delayed beyond the offer expiry, you may need an extension or a fresh assessment, so keep an eye on the date, especially on a new build that is still being finished.
Protect your offer
Check you are ready for a binding offer
This binding-offer readiness check from Propillo, an embedded third-party tool, looks at what could put an offer at risk before completion. It is run by Propillo, not by Mortgage Explained. No credit search to run it, and no obligation. Information, not advice.
Back to the mortgage readiness hub. See also agreement in principle, which is an earlier and weaker signal than a full offer.
Founder, MortgageExplained
Adam spent over eight years as a mortgage adviser at Just Mortgages, with further experience in commercial finance. He is CeMAP and CF qualified. He built MortgageExplained to do one thing well: explain mortgages in plain English, so you know where you stand before you speak to a regulated broker. Every page on the site is written by Adam.
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