Mortgage expires 3rd August and contracts will not be exchanged by then.

ZeeOwen1

Hi All. I would greatly appreciate it if I could get some advice. 
We put an offer on a house in January and due to a buyer falling through and coronavirus moving was delayed. On Wednesday we found out that our vendors were pulling out of the sale. We have a buyer in place and will continue with the sale of our property. We found a house on the market we like and are going to put in an offer on Monday.

The problem is our mortgage offer expires on the 3rd August, our lender, Barclays have said they will only extend the mortgage offer if contracts are exchanged before the expiry date.

Contracts will obviously not be exchanged and we will have to apply for a new mortgage.

I'm struggling to find offers as we are not first time buyers and only have a 10% deposit-- and will need a 90%LTV mortgage.

Does anyone have any advice on what we can do? And what 90% Ltv mortgages are out there?

Thank you. 

andyf1980

Time to find a good broker to sort this out for you.

jamielutz1987

I would talk to a broker. Unfortunately it isn't a good time to be in the market for 90% LTV products.

The MSE mortgage finder should give you an idea of the products available for your requirements.

You may as well start off as new borrowers looking for a mortgage.

Good luck!