We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Virgin mortgage offer extension
Options

Gilbert21
Posts: 16 Forumite
Hi :-)
Just after a bit of info if anyone can help! We are ready to exchange on our sale and purchase but as we are buying a new build and completion won't be until around end of March, our buyers mortgage offer from Virgin will need to be extended before they will commit to exchange. I understand this is because their mortgage offer expires beginning of March and they need to ensure they have a valid mortgage offer in place to cover completion date.
They are unable to apply for an extension to their offer until the offer is 2 weeks from expiry so I'm still playing a waiting game to get to exchange.
So my question is, how long should it take from when the extension is applied for, for it to come through so exchange can take place? Second question I suppose is who applies for the extension? Their solicitor or their broker?
TIA
Just after a bit of info if anyone can help! We are ready to exchange on our sale and purchase but as we are buying a new build and completion won't be until around end of March, our buyers mortgage offer from Virgin will need to be extended before they will commit to exchange. I understand this is because their mortgage offer expires beginning of March and they need to ensure they have a valid mortgage offer in place to cover completion date.
They are unable to apply for an extension to their offer until the offer is 2 weeks from expiry so I'm still playing a waiting game to get to exchange.
So my question is, how long should it take from when the extension is applied for, for it to come through so exchange can take place? Second question I suppose is who applies for the extension? Their solicitor or their broker?
TIA

0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.2K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.2K Mortgages, Homes & Bills
- 177K Life & Family
- 257.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards