Loan Offer from Lender

[beezkneez]

Hi guys, long time reader of the site but first time i've asked a question!

I am currently working on getting a mortgage for a property. I received AIP and then went ahead with valuation and now loan offer is with solicitor. Just wondering does this mean i am sorted for the mortgage? I only ask as i havent told anyone yet, friends, relatives etc as I didnt want to get ahead of myself but at this stage am i safe to say that lender has to go ahead with offer and i am not going to have to turn around and say its off. I am very excited about getting my own place finally but still abit afraid to get my hopes up that it is in the bag. Wont get a chance to speak with solicitor until tuesday so was hoping for some advice here.

 

[fizzelina]

Well until you sign the contracts I suppose nothing is set in stone. But the loan offer is fairly concrete and as far as I remember from my own house buy it would be very unusual for bank to withdraw the offer although they reserve the right to do this, say for example you then lost your job. But good luck, congrats and I think you are safe to tell people since the loan letter is with the solicitor!

 

[beezkneez]

Nice one Fizzelina. I understand that nothing is 100% until contracts are signed but wasnt sure really how safe a loan offer is. I know there is an expiry date on it (3 months) but this wont be an issue.