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Extending Mortgage Offer - Maternity Leave
StressedHomebuyeruk
Posts: 1 Newbie
Hi,
We're currently in the process of purchasing a property and are under a lot of pressure as our sellers mortgage offer is expiring. Since receiving their offer letter, the lady has gone on maternity leave and we are being told the offer letter cannot be extended.
We were supposed to exchange today and we have just found out that our buyers solicitors have discovered that they have forgotten to carry out the searches (do not know how this is possible). Which'll mean we wont complete in time and the chain will collapse.
So my question is, can a mortgage offer be extended? A difficult question considering we don't know the bank but I just wondered if there was a little bit of hope for us.
Thank you!
We're currently in the process of purchasing a property and are under a lot of pressure as our sellers mortgage offer is expiring. Since receiving their offer letter, the lady has gone on maternity leave and we are being told the offer letter cannot be extended.
We were supposed to exchange today and we have just found out that our buyers solicitors have discovered that they have forgotten to carry out the searches (do not know how this is possible). Which'll mean we wont complete in time and the chain will collapse.
So my question is, can a mortgage offer be extended? A difficult question considering we don't know the bank but I just wondered if there was a little bit of hope for us.
Thank you!
0
Comments
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Depends on the lender. Some just expire and then it has to start from scratch, some can be extended without too much effort
The mat leave shouldn't cause too many issues assuming she's actually going back to work. Lenders will use the return to work salary0
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