HTB Mortgage Offer may expire before new build completion?

marginex

Very much of the fact they support my lending criteria, im essentially self employed (company director) they really suited my needs! As they worked on my net profit aswell

kingstreet

Going back to your original question, VM mortgage offers only last sixteen weeks. They do have an extention process which gives you an extra eight weeks, but this involves them re-credit scoring you, deciding if the valuation needs refreshing and charging another fee if it does and you confirming there's been no change to your income.

TBH it's one of the reasons we don't use VM much, because a lot of what we do is newbuild and we have enough problems with six month offers, like Nationwide's.

marginex

Hmm do you think its worth mentioning now and they may extend it from the start, the property is due to be completed in June, so only the next month after the standard expiry, can my broker or solicitor do anything?

kingstreet

No. You can only request an extention within two weeks of the expiry of the current offer.