Barclays, extensions and rekeying

time-4-a-new-start

Hi
I know there are lots of more important things to worry about right now, so please excuse me asking this, but.... a long story short.
We had a mortgage offer in place with Barclays. Contracts were signed and all was set to complete before crisis started. It didnt and with the offer going to expire all panic broke out to get an extension.
For nearly two weeks we have been waiting on written confirmation on the offer extension (told verbally it was extended but nothing confirmed hence the worry). We've  been told it's being rekeyed and unsure how long that will take.
The questions I have are:
1. Why would an offer extension need to be rekeyed? Is that normal?
2. And how long should an extension take to come through? Have been told 10 days which it isn't 
Understand at this time things are hard and lots of things happening. But with a lot invested, we are keen on at least getting the assurance that the offer is extended 
Thanks

chris.heighton

I'm  currently waiting on the same! Applied on 20th March, told 10 working days, so should hear this Friday...
In response to your questions (although I'm no expert):
I am assured that rekeying is normal! Its basically just re-entering your data 

[Deleted User]

1.  Barclays process.  Some can just extend the date, Barclays rekey the whole application. I believe its something to do with credit scoring only lasting 6 months so they rekey it but it has to be done by them to keep the same product. 

2.    Rekey takes about 5 days in normal life. And then 2 days in normal work queue once any additional requested docs are uploaded.  That normal queue is currently 10 days,  not sure how long the rekey queue is, probably more. 

I've had a similar situation with Barclays and told everyone to build a 1 month delay

ncass

I'm in a similar situation, exchanged contracts on a new build which was due to complete next month but now who knows when. My mortgage offer runs out the 1st week in May and my broker has told me that Barclays are proactively extending offers which have been exchanged on for 3 months and writing out to confirm. I haven'd had a letter yet and feeling nervous. The product i have does allow to extend for up another 6 months  under normal circumstances (being a new build H2B mortgage) so not sure if that makes any difference?

chris.heighton

Ncass - where you provided a timeline?

ncass

chris.heighton said:

Ncass - where you provided a timeline?

For when i would receive written confirmation? No i wasn't i'm going to give it another week or so then chase up if not received

time-4-a-new-start

I've been told by Barclays 10 working days to rekey

chris.heighton

My mortgage advisor told me yesterday 15 working days to check documents after a rekey, although barclays intermediaries are still saying 10 days. So not sure whats going on there.

time-4-a-new-start

Yea one thing is clear... it's all not clear 🤔

time-4-a-new-start

Deleted_User said:

1.  Barclays process.  Some can just extend the date, Barclays rekey the whole application. I believe its something to do with credit scoring only lasting 6 months so they rekey it but it has to be done by them to keep the same product. 

2.    Rekey takes about 5 days in normal life. And then 2 days in normal work queue once any additional requested docs are uploaded.  That normal queue is currently 10 days,  not sure how long the rekey queue is, probably more. 

I've had a similar situation with Barclays and told everyone to build a 1 month delay

Thanks JMA

chris.heighton

time-4-a-new-start said:

Yea one thing is clear... it's all not clear 🤔

Clear as mud!