• Breach Of Contract

    By Guest on 15th Dec 2014

    What rights does a buyer have if a mortgage lender withdraws a mortgage offer because of a discharged bankruptcy found in the bankruptcy checks? Surely this would put the buyer in a breach of contract through no fault of their own?

  • 1 Answers

    By Guest on 05/04/2015

    I suppose it would depend on the mortgage application. If, as I would expect, the application form asked if the borrower had ever been bankrupt and if the borrower said no then the bank would not be liable because it would argue it might not have issued a mortgage offer in the first place had it been told about the past bankruptcy. If it wasn't asked on application then the bank (or solicitor who could have done the search before exchange albeit this is not usual practice) may be liable.

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