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Mortgage offer extension
CLJP72
Posts: 19 Forumite
We had our offer accepted on a property mid January, it's a probate property and originally we were told it would take about 12 weeks. Mortgage offer end of January, since then it's dragged on as they are waiting for HMRC which is being slower than usual due to COVID. Our mortgage offer expires end of July and the broker has said they can probably get an extension of a week or two. Does anyone know if lenders are extending offers by months rather than weeks due to the situation we have been in; where things have or had almost stopped. Luckily our work circumstances haven't changed but really don't want to have to apply for another mortgage.
Has anyone has their mortgage offer extended? If so by how long and by which lender? Hoping the mortgage adviser will get back to us next week but just wanted to see what had happened to others in similar circumstances to ours.
Has anyone has their mortgage offer extended? If so by how long and by which lender? Hoping the mortgage adviser will get back to us next week but just wanted to see what had happened to others in similar circumstances to ours.
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Comments
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Who's the lender? I've seen on this forum that Halifax extended offers by 3 months.The policy and process will differ based on lender.Below is Santander's policy as described on their intermediary website - extension of 2 months pre-exchange and 3 months post-exchange.
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Have a look on your lender's website. There is an FAQ section on most that will answer your question. I think most have been automatically extended, if the offer was made before a certain date. Santander is also a 3 month extension0
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