offer extension experience?

marginex

Hi Everyone,

Has anyone or any broker been through a mortgage offer extension process recently?

My new build is will be completed just 5 days after my original offer which is frustrating so my broker has put in the request for an extension with my lender, they have a process is place for requesting an extension.

My broker is 99% certain it will be granted, the lender did request a signed letter from my wife and I confirming no changes in our circumstances and the a letter from the broker confirming no change and just confirmation from the builder for completion date, all pretty simple and straight forward and done.

Brokers contact at lender says letters all look fine and acceptable but the underwriter just needs to rubber stamp it to gain the extension.

But I have got myself all worked up, convinced myself we are going to not get it and lose the house so lose to it all.

Just seeing some reassurance from any other persons or brokers experience?

Thank you

Thrugelmir

For a new build 5 days is nothing in terms of an over run.

marginex

Thank you that sounds positive! Is it one of the factors the underwriter will look at?

Thrugelmir

Lenders will have a set of internal policies for such circumstances. An underwriter will act in accordance with these. There's no discretion.

sheilds

Hi there

We recently had to get an extension to our re-mortgage offer because of a lost Land Registry certificate,
T?sco were the Mortgage provider and they granted us a further 3 months with no major fuss after we explained over the phone so hopefully your provider will be the same
We achieved the second date with 3 days to spare so anxiety levels were high -I can sympathise with you!!!
Good luck.
S.

marginex

Thanks Thrugelmir, although im not sure i understand your reply!? Are you saying number of days has no relevance? guess each lender is different

Thanks Shields, it is reassuring to read other people going trough it ok.

Seems im the only person making a big deal out of it.

kingstreet

I thought we'd already dealt with this?

https://forums.moneysavingexpert.com/discussion/4986356

You seem to know more about the post-MMR VM process than I do...

marginex

Hi king street, not sure how it's dealt with I was asking in that thread about my lender, I'm wanting to hear about people's recent experience of getting an extension, in that other thread we just spoke about the process with my specific lender so no real reason to link to it but thanks