Mortgage expiration and re-applying

Crumble2018

Has anyone had a mortgage expire lately, and has had to re-apply? Ours runs out at the beginning of December, and solicitors are still trying to sort out queries.


My main concern is that if we have to re-apply, the property may now be under-valued. Property prices have dipped slightly in our area since we made the offer, although not drastically.


Does anyone have any experience of this please?

Sanveen

You should be able to extend the mortgage offer. Most of the lenders allow atleast one extension without re applying. Length of extension differs from lender to lender but generally high street lenders do it for another 3 months. They might ask for latest payslips, bank statements etc.

Crumble2018

Sanveen wrote: »

You should be able to extend the mortgage offer. Most of the lenders allow atleast one extension without re applying. Length of extension differs from lender to lender but generally high street lenders do it for another 3 months. They might ask for latest payslips, bank statements etc.

We've already checked this - Nationwide only offer extensions on new builds sadly.