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Mortgage offers
Rollerdave
Posts: 1 Newbie
Just wondering how long is a mortgage offer normally valid? A friend was made an offer in late November 2011. Will the offer still be valid or will the Building Society carry out a revised valuation?
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Comments
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Incredibly unlikely it will still be valid.
Typically a mortgage offer lasts for 3 or 6 months, although is totally dependent upon lender..
He should be able to check the mortgage offer, as it will be totally obvious within the paperwork..I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.0 -
Typically, a valuation goes stale and has to be refreshed after six months. The mortgage product selected at the outset may have had a "drawdown deadline" passed before the six months of the offer expiry.
It'll be minimum of a new valuation and selection of a new product to get a new offer. Lender may carry out new status checks too.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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