When to accept mortgage offer

NewBuild72

Hi,

This is a silly question, but I need advice!

We are buying off plan and house won’t be ready until “summer 19”. We now have our mortgage offer and need to send back our acceptance form. Doing this now won’t cause an issue will it? I assume the mortgage only becomes payable on completion... as I said, silly question!

helejenkins1

I would check the expiry date of your offer. Most only last 6 months. If you need it to last longer you will need to speak to your mortgage advisor and maybe reapply

middleclassbutpoor

mortgage offers normally last for 6 months in the main - you will need to request the offer be extended when its coming up to the 6 months.

it may be worth asking a broker if there are any lenders that are better to work with for this scenario.

NewBuild72

Hi

Thanks, the offer is for 6 months with the option to extend by 3. We hope to complete May/June.