Mortgage/New Home/ New Job??

ryan86uk

All,

Just a quick question really.

We (partner and I) have sold our 1 bed house and have an offer accepted on another house.

1 - How long are mortgages applications valid for?

2 - If I get a new job in between a mortgage application and completion - what happens?

Thanks all

piedmontboot

Generally, once your mortgage offer is issued (e.g. agreed by underwriter, valuation completed etc) most lenders offers would be valid for 3 months. If you changed jobs between offer and completion, this is unlikely to be picked up by the lender, unless you need to re-apply for some reason (such as property falling through)

ryan86uk

Ok, thanks for your reply.

After three months, would it be a full application again? or a simple review and another three months?

piedmontboot

ryan86uk wrote: »

Ok, thanks for your reply.

After three months, would it be a full application again? or a simple review and another three months?

It really depends on the lender, some would make you start the application again, others may extend the offer past the expiry date if you have a good reason.


Once you've decided on a lender, it would be worth checking this with them directly as their policies differ when it comes to this.