Possibility of Extension of Mortgage Offer Date

MrsWenger

Good afternoon,

I would like to ask for advise on behalf of a friend please.

My friend has a Mortgage Offer in place from Brittania with a deadline of 1st November. Due to a delay in one of the sales in the chain, this deadline is now not going to be met. Is it best to call Brittania to ask for an extension of this date? Is it likely that they will agree and does anyone have any idea of the likely extension period?

Does anyone have experience of asking for such an extension and can offer any advise please?

My friend is concerned that there is no definite completion date available at the moment but indications from the other parties solicitor suggests approximately one month.

If the offer cannot be extended, is my friend likely to be charged the full fees to reaarange the mortgage with Brittania given that they have undertaken all the checks recently.

Thanks very much.

Tracey

koexelek

If it is only going to be a few days over, and the solicitor can confirm it, it is likely they will extend the offer.

It s totally at their discretion though.

Worse case scenario, is that your friend has to apply for a new survey ( if the old one is out of date) and apply for a new deal ( if the old one is no longer available)
Might have to pay another booking fee i the product is one where you pay it up front, rather than add it

getmore4less

Don't exchange without a mortgage offer in place that lasts at least as long as the completion date.

Best to get onto them now if it looks like it may expire.

MrsWenger

Thanks to you both, koexelek and getmore4less, for your prompt replies and good advice.

I will suggest to my friend that she discuss this with Brittania; i guess the crux may be how long the few days, that you refer to koexelek, actually is. From information already received from the solicitor i expect it to be about a month so i guess it will depend on if they consider that to be too long a period.

Kind regards,

Tracey