You do not wish to approve the proposed financing because you have received a better offer elsewhere. You should be aware that you have a cooling-off period of 10 days during which you can reread your offer and see what it commits you to. At the end of this period, you can return the offer (but not before!). No money can be claimed until the signed offer has been returned. (Not by the bank, the broker or the seller)
You wish to cancel the sale even though you have obtained the loan offer, for whatever reason. This is not impossible, but it does involve costs. If you are not committed to the bank until the offer is returned and signed, you are nonetheless committed to the seller, who can claim 10% of the sale price. This is known as the penalty clause. Other costs may be added (estate agency, notary, etc.).
