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Santander Mortgage Extension
Steve_1010
Posts: 3 Newbie
Bought a new build property back in November last year.
Got approved for mortgage with Santander, but was however only given a 5 month offer.
Expected completion date was April. however it has new been put back a month - meaning my current offer will soon expire.
Exchanged contracts in January and builder agreed to take 5% of the deposit then and the remaining on completion.
My circumstances have not changed. Clean credit file, same job, finances etc....
How do Santander play the mortgage extensions? My Broker seems to think it will extended automatically. Will they do another credit check? Payslips again etc? I'm now worrying something will go wrong!
Got approved for mortgage with Santander, but was however only given a 5 month offer.
Expected completion date was April. however it has new been put back a month - meaning my current offer will soon expire.
Exchanged contracts in January and builder agreed to take 5% of the deposit then and the remaining on completion.
My circumstances have not changed. Clean credit file, same job, finances etc....
How do Santander play the mortgage extensions? My Broker seems to think it will extended automatically. Will they do another credit check? Payslips again etc? I'm now worrying something will go wrong!
0
Comments
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Presumably it's the drawdown deadline of your product which is approaching...
When you are two weeks from expiry, you will need to pick a new product from the current range, supply the documents required at the outset and if six months' old the valuation will have to be refreshed.I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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