Mortgage offer extension problems - new build

Gadget_man

Hi - long time lurker so be nice!

We are currently in the process of buying a new build with help to buy. We originally exchanged contracts and got out mortgage offer in July last year but due to some delays with the build our original mortgage offer from aldermore (some past credit issues) expired yesterday. I contacted our broker who said a 6 month extension should be possible. The extension was applied for and I received the offer in the post today!:j

However despite me informing the broker that it will be March 29th at the earliest before we can move in the offer is only valid for 60 days and expires on 22 March. So it is of little use!

I am now paranoid that because they have already extended the offer we won't be offered a further extension and worried that if we apply again we won't get another application through!! :eek:

Can anyone offer some words of advice or speak from similar experience??

LRmortgage

That’s not your brokers fault, the lender will have a maximum period they are willing to extend the offer for.

Ask your broker what options you have next. The lender may allow another extension, or they may want another valuation, or they may say you need to apply again.

middleclassbutpoor

Speak to your broker.