You can withdraw from any agreement before it has been signed by both you and the lender. This means acting quickly. If you have already signed, you will have to let the lender know that you have changed your mind before they sign. It's probably best to phone, fax or e-mail and then confirm by post. The effects of withdrawing are the same as cancelling. This is particularly important with agreements secured on your home where the lender must send you an advance copy of the agreement at least seven days before sending the actual agreement to be signed. The lender must not contact you during this consideration period to give you time to think about the deal (but you can contact them).