Mortgage approved, want to exchange on 1st march, would that cause problems with bank

Sunny2good

Hi,

Mortgage from Natwest was approved 3 weeks ago. I and the seller have now agreed to exchange is 3 months time

i know the property agent wont be that happy cos he wont get paid till 3 months

but Would that be ok as far as the bank is concerned or are they unlikely to extend the offer for so long ?

rsykes2000

Mortgage offers used to be valid for 6 months. I have no idea what Natwest's current conditions are, but they surely are the people to ask in the first instance as you should get a definitive answer from them.

mclaren32

Obviously check with Natwest but I believe the period is 3 months, however if you explain the situation it may well be longer. (I work for Natwest but not within the mortgage dept)

Sunny2good

Thanks guys. i just wanted to know whether the limit set from the Bank can be extended or not.

I have called Natwest asking for an extension. It was 3 months as standard but have requested it to be extended for another month. They said they will call me with 2 days with an answer

clearing_out_my_pockets

Are you intending to exchange and complete in a short timespan? Don't forget your mortgage offer has to be valid when you complete.