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Mortgage Offer has just expired!
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Brenden
Posts: 3 Newbie
Hi,
I've just got a mortgage from santander for £46k, its only for a shared ownership 2 bed flat. (For some reason I thought it would make sense only going for 40% rather a higher percentage of owership - Now not sure if this was a good idea??) . Anyway the offer expires at the end of the month :eek: ! It has taken nearly 3 months to sort out the contracts for the solicitor
:( My broker has said it CANNOT be extended as the product has expired. But has anybody else been in this situation, what paper work needs to be changed? The mortgage they have offered me works out £250 more expensive!
Cheers,
Brenden
I've just got a mortgage from santander for £46k, its only for a shared ownership 2 bed flat. (For some reason I thought it would make sense only going for 40% rather a higher percentage of owership - Now not sure if this was a good idea??) . Anyway the offer expires at the end of the month :eek: ! It has taken nearly 3 months to sort out the contracts for the solicitor
:( My broker has said it CANNOT be extended as the product has expired. But has anybody else been in this situation, what paper work needs to be changed? The mortgage they have offered me works out £250 more expensive! Cheers,
Brenden
0
Comments
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Despite what the broker has said, lenders do sometimes extend product deadlines where there's been a difficulty in completing the conveyancing in time. Your solicitor should request an extention, via his/her usual channels.
You can normally not extend beyond six months, as at that time, the valuation is considered out of date and a new one is needed.I am a mortgage broker.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.0
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