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Mortgage offer - how long isnis available?
Dalglish
Posts: 194 Forumite
Hi
I’ve been told by Santander I’ve passed the affordability test for additional borrowing on my mortgage for home improvement.
However I’d like to secure a deal before fixed rates disappear and yet I can’t yet until I’ve been given planning and building regs permission which could take up to six months.
Does anyone know if Santander keep open a mortgage offer for any length of time?
Worst case, if my home improvement plans are scuppered by either my neighbours during the planning consultation or local authority then I’d no longer need additional borrowing.
Again, any idea on what banks/ Santander tend to do in these cases?
Many thanks.
I’ve been told by Santander I’ve passed the affordability test for additional borrowing on my mortgage for home improvement.
However I’d like to secure a deal before fixed rates disappear and yet I can’t yet until I’ve been given planning and building regs permission which could take up to six months.
Does anyone know if Santander keep open a mortgage offer for any length of time?
Worst case, if my home improvement plans are scuppered by either my neighbours during the planning consultation or local authority then I’d no longer need additional borrowing.
Again, any idea on what banks/ Santander tend to do in these cases?
Many thanks.
0
Comments
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Mortgage offers will not be open ended time wise. If the funds are not drawn down then the offer will lapse.0
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If remortgaging to Santander, offers are valid for 6 months. Not sure if it's the same if already with them and taking additional borrowing.I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Many thanks everyone that!!!8217;s really helpful0
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