How long will a bank keep a mortgage application on hold?

abs95 · 3 June 2020 at 12:17PM

Anyone know how likely a bank is willing to keep a mortgage application on hold?

Our broker managed to get our lender to put our mortgage application on hold in April until we get our forces help to buy approval (my boyfriend has had to work from home end of March-end of May due to covid and only went back 2 weeks ago) as they were threatening to cancel. He’s still struggling to get two signatures needed for the approval as he just can’t reach the people he needs.

Our mortgage broker has said he’s conscious that they could cancel any day and will have to reapply but this whole thing is completely out of our control and my boyfriend is doing the best that he can to chase this FHTB up daily.

Are the bank likely to cancel our application? Or do you think they will continue to keep it on hold until we do get what they need? The FHTB approval is the last thing we need to get our mortgage accepted. I appreciate it’s been on hold for a while so they may be getting impatient but I just wanted to get some more opinions really!