Lenders pulling mortgage offers?

I'm not seeing mortgage offers being pulled from lenders as the rates are usually secured at point of application being submitted. If a mortgage offer expires, then the lenders will reassess based on the new rates currently available. Agreements in principle, are just that, in principle. This doesn't secure the rates or product, but rather tells you what your borrowing capacity as, at the point it is produced. Therefore, agreements in principles may be impacted due to the continuing rate rises, until an application is submitted to the lender.

Really, not seen this (yet). Mortgage products yes but not offers, unless something has flagged up before completion.

Thankfully (touch wood) I haven't had anyone withdraw an offer (which would be very difficult as a mortgage offer is legally binding on the lender, so this one is surprising) or an approval. I would guess it more likely that neither have been withdrawn, but it maybe that the offer or the approval has reached the end of it's validity period and expired - with the client then unable to qualify for a new deal, or simply pulling out as the rates have risen to a point they see the cost as unaffordable to them.

Under the EU credit directive 2016 which came in to effect on 21st march 2016, mortgage lenders are required to offer a binding mortgage offer. Therefore, once the funds are offered it can only be withdrawn for very limited circumstances. These are typically where a material change which would effect the decision to lend has occurred [Loss of job and therefore income for example] or fraud is detected on the application. Therefore, lenders are not in our experience withdrawing any offers which are made. An AIP of course, is an indication that an application can be considered, and whilst an AIP might have been held, if an application has not been made, and that lender has now withdrawn products from the market for an interim period, then that AIP becomes void as there are no products to apply for under it. Overall, we have experienced AIPs to be a bit more difficult to obtain over the last 48 hours, meaning lender may have tightened their credit criteria - again we suspect for an interim period

Agreements in principle haven't been worth the paper they are written on for a long time, the market has been changing at an extreme rate for a number of months and could easily lead to these no longer being viable a few months after being obtained. However, although there have been rumours of the odd specialist lender pulling offers we're yet to see any clear evidence that this in fact has been the case.