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  • FIRST POST
    • fresa
    • By fresa 14th Sep 17, 10:31 AM
    • 21Posts
    • 1Thanks
    fresa
    Precise Mortgage extension offer
    • #1
    • 14th Sep 17, 10:31 AM
    Precise Mortgage extension offer 14th Sep 17 at 10:31 AM
    Hello,

    How long it takes to get an answer for extend the mortgage ? do we need to provide anything?
    Please advice my offer runs out in 5 days thanks
Page 1
    • VentureMM
    • By VentureMM 14th Sep 17, 11:37 AM
    • 10 Posts
    • 4 Thanks
    VentureMM
    • #2
    • 14th Sep 17, 11:37 AM
    • #2
    • 14th Sep 17, 11:37 AM
    I'm not entirely sure what it is you are asking. Generally to extend the term you would be required to apply for a new mortgage.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • fresa
    • By fresa 14th Sep 17, 11:48 AM
    • 21 Posts
    • 1 Thanks
    fresa
    • #3
    • 14th Sep 17, 11:48 AM
    • #3
    • 14th Sep 17, 11:48 AM
    sorry, we have a mortgage in principle but we need to exchange and complete, the seller of the house just found out that they been aprobe from their mortgage yesterday, so means we need to extend the offer of our mortgage, it means we need to do everything again?
    • Time2go
    • By Time2go 14th Sep 17, 2:54 PM
    • 124 Posts
    • 17 Thanks
    Time2go
    • #4
    • 14th Sep 17, 2:54 PM
    • #4
    • 14th Sep 17, 2:54 PM
    Have you applied for mortgage or just got a dip
    • kingstreet
    • By kingstreet 14th Sep 17, 5:17 PM
    • 31,934 Posts
    • 17,069 Thanks
    kingstreet
    • #5
    • 14th Sep 17, 5:17 PM
    • #5
    • 14th Sep 17, 5:17 PM
    If all you have is an agreement in principle, the next step is submission of a full application, supporting documentation and payment of fees.

    This will result in the issue of a formal mortgage offer to you and your solicitor and this will be used to exchange contracts and complete once the legal work is done and a completion date is agreed between all parties in the chain.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • fresa
    • By fresa 14th Sep 17, 6:11 PM
    • 21 Posts
    • 1 Thanks
    fresa
    • #6
    • 14th Sep 17, 6:11 PM
    • #6
    • 14th Sep 17, 6:11 PM
    we do have the mortgage in principle, and all the documentation was submitted with the information ( pay slips, bank statements etc...)our mortgage offer is running out in 5 days....so my question is , do we need to re apply for a mortgage? or is just a phone call that the solicitor have to do? we did apply with precise mortgage, please advice.
    • kingstreet
    • By kingstreet 14th Sep 17, 6:18 PM
    • 31,934 Posts
    • 17,069 Thanks
    kingstreet
    • #7
    • 14th Sep 17, 6:18 PM
    • #7
    • 14th Sep 17, 6:18 PM
    Do you have an agreement in principle or do you have a formal mortgage offer?

    It sounds like you have a mortgage offer.

    If the offer is due to expire, you need to request an extension and supply some of the documents once again.

    You need to speak to the lender, or your broker ASAP.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
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