Halifax Offer Extension

michaeljpconlon

Hi

I'm just curious if anyone has ever had their mortgage offer extended. My broker seems to think that its unlikey and that we'd have to restart the whole process. We have invested heavily in surveys, valuation etc but it seems the vendor may not be in a position to complete before the offer runs out (31st March). The estate agent (who has since retired) told us the vendor would vacate the property by the 28th Feb regardless but they've changed their minds. The offer is from the Halifax. If it can't be extended is it possible to complete and then "rent" the property to the vendor until they are ready to move or is that just to messy? Should I contact Halifax myself to see if I can get an extension even though I went via a broker. So close but yet so far.

M

csgohan4

I would not recommend renting the property to the vendor under any circumstance and would you be allowed to under a residential mortgage?

How sure are you the vendor will leave? Eviction proceedings are expensive and lengthy

Don't leave things to chance, control things you have control over.

If the vendor has cold feet, so should you.

Your mortgage offer maybe extended, worst case you have to go through the whole process again. As long as nothing has changed materially, you should be fine

David_White

Your broker shouldn't have much of an issue getting your offer extended, I've done it plenty of times for my clients.

I'd avoid going direct if at all possible.

kingstreet

Halifax is one of the easiest ones as the offer never actually expires.

As you near the product drawdown deadline, you simply pick a new product from the current range and amend the system to reflect it.

You then ring them and ask them to refresh the valuation when it hits six months old and you then get a new offer until the next drawdown deadline, currently 30/09/2017.