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Halifax mortgage offer expiry date post exchange during corona
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OliviaD262
Posts: 1 Newbie
My partner and I have already exchanged on a new build property, with our mortgage offer valid till June. Because of Covid-19 this has delayed our build completion and as such will run over the mortgage offer expiry date. Are banks such as halifax likely to honour the offers especially in circumstances when exchange has already taken place?
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Comments
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Yes. In the worst case scenario, it isn't your offer that expires it's your product drawdown deadline so you can pick a new product and have a revised offer issued in about five minutes. Valuation has to be refreshed after six months which is a standard process.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.2
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We are in the very same situation. Halifax, mortgage ending in June... stressful times.
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