"If the mortgage offer is signed can the bank do this?"
Yes. Its the rate applicable at draw down in most cases unless there is a specific clause confirming the rate on signature - which would be very unusual in todays uncertain climate.
mf
I thought the ECB rate could change on a tracker prior to draw down but not the percentage rate over the ECB rate.
I'm pretty sure that they can. As mentioned above the detailed terms & conditions will often (normally?) allow the lender to reserve the right to review the rate prior to draw-down.Can fixed rates be renegotiated prior to drawdown? Response from Financial Regulator seems to suggest they can't be.
Timing the market is a mug's game. Only fix if necessary due to cashflow concerns and not in an attempt to save money over an alternative competitive tracker/variable rate.I fee ECB rates will go down
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