HSBC mortgage offer validate only 4 weeks?

frey80

hi everyone, new to this site

I just received my mortgage offer from hsbc, it mentioned that
"unless we agreed otherwise, this offer is valid until 22nd March 2013" which is like just 4 weeks.

tried to phone the mortgage center and they explained to me that the mortgage is valid for 6 months for me to complete the purchase and the 4 weeks is the time for me to sign and return the offer documents.

however i am not seeing anywhere mention about 6 months in the offer and the "terms and conditions" booklet attached mentioned:

the agreement can be cancelled or withdrawn....
i) if the period for which the offer is valid (as set out in the offer document) has expired or
ii) if First Drawndown does not take place within 6 months from the date that you tell us to book the funds....

i am confused here as the first condition, does it means that the agreement can be cancelled after the validation period passed which is 4 weeks from now?

Andrew_Cottrell

frey80 wrote: »

i am confused here as the first condition, does it means that the agreement can be cancelled after the validation period passed which is 4 weeks from now?

I had the same confusion, and also phoned them. They gave me the same reply they gave you. I left it at that and proceeded. I have now brought a house and have the mortgage.

You need to sign and return the offer documents within four weeks. Then you need to complete within six months, or ask for an extension if you're approaching the six month limit.

They can cancel or withdraw the mortgage offer at any time before completion. It's probably the same with all mortgage providers. You shouldn't worry about it.