Extension of Offer

chris.heighton

Hi,
I had a mortgage offer with an expiry of 6 April. However, due to corvid delays my builder could not complete (had to get a warranty) until 8 April. Due to this, I asked London and County (my brokers) to seek a mortgage extension on 20 March. 
I have been told that I require a rekey of the application (whatever that is) with Barclays but that this could take 20 to 25 working days....!

Does anyone know if the above time is reasonable? Is there anything I can do?
I'm finding communication with the broker quite difficult, so I thought it would be better to see advice or thoughts here first...

Any advice appreciated!

Thanks

Chris

chris.heighton

Just to note - exchanged contracts in December!

davidmcn

chris.heighton said:

a rekey of the application (whatever that is)

"Re-key" as in "keyboard" i.e. typing it in again.

Otherwise I don't have an answer to your question, but doesn't your purchase contract have a longstop date matching the expiry of your mortgage offer? i.e. are you entitled to pull out on 6 April if the builders can't complete by then?

chris.heighton

Ah, thanks.

Long stop date is the end of April! So I would be in breach if cannot complete then...

Hoping to get a revised offer (extension) ASAP!