I got new mortgage offer from the bank

manishrana

Hi to all ,
I have recently got the mortage approved from the bank and they have given me the offer letter ..the mortgage offer will last for 6 months , I assume they must have done hard credit checked on me .

So , if i exchange and complete in the 5th month before the offer expires from the bank ..
are the bank going to do another hard or soft credit search on me again before they will release the money to my solicitor??? Or No more credit check ?
i will appreciate if anyone can help me out with this .

Nebulous2

They can check any time up until completion. Some lenders may do 3 checks. Usual advice is not to make any more credit applications before you have the house, particularly if affordability is tight.

cado1

offers valid for 6 months is standard across all lenders this is due to the valuation normally being valid for the same period. They will normally agree to an extension if a rationale for doing so can be provided

Yes I expect they will have done a full credit check on you before offer, if you need to extend the offer period they may well do another it varies from lender to lender

djpix99

I was in a similar situation to you, with 3 months from offer to completion and only one credit check was competed before the offer letter. However when I read the offer letter it did say that further checks could take place.