Mortgage offer expires advice please

noff

Hi, I have a mortgage offer from the Yorkshire Building Society that expires on 26th July 2009.

I will be exchanging contracts this week however the chain is unable to complete until 30th July 2009.

Does the above have any effect on my mortgage offer and at what date does the mortgage offer become 'live'?

Any advice would be appreciated.

opinions4u

Contact the broker or lender and get them to extend the offer.

The solicitor won't be able to complete with an expired offer.

noff

Thank you for the reply, does that mean that the date that matters is the completion date as opposed to the exchange date?

opinions4u

noff wrote: »

Thank you for the reply, does that mean that the date that matters is the completion date as opposed to the exchange date?

Completion date is when you start paying interest, so yes.

Exchange merely commits you to the purchase (or paying a painful penalty to the vendor if you pull out).