Nationwide Mortgage Offer Expires - 15 Day Grace Period?

dave5530

Hello all,
Me and my partner are buying a new build using help to buy. We're due to complete September 18th, my mortgage offer from Nationwide expires 31st of August - this follows their 90 day COVID extension. I've read elsewhere that Nationwide offer a 15 day grace period on top of their 90 day extension? Does anyone know if this is true? Having spoken to the developer, 15 days would be just enough time for an earlier completion. we cannot, however, complete before the mortgage offer expires. Any insight would be appreciated.

KAP0365

Only Nationwide can give you the correct answer.

Windofchange

Looks like you are probably ok, but you or your representative will still need to call them to let them know:

https://www.nationwide.co.uk/about/media-centre-and-specialist-areas/information-for-lawyers/cot-and-release-of-funds

Completion must take place on or before the date the offer expires. If it is apparent that completion is likely to be outside the validity period of the mortgage offer please contact the issuing office for further guidance.

We will endeavour to meet the new completion requirements providing completion takes place within 15 days of the original offer expiry date.

kingstreet

Nationwide automatically extends newbuild offers by 45 days when expiry approaches. You will be informed by email.