Mortage offer extension

lushshez14

Hi there
I just have a question over the normal procedure of a mortgage offer extension.
 Our chain has been a bit tricky and bumpy then we anticipated (or was lead to believe) but we finally have a completion date, unfortunately it is 2 weeks after our offer runs out. What would be the normal procedure to get an extension? We applied with a broker, therefore halifax won't deal with us personally for an extension. We was originally told an extension of a month would be simple if we needed it,as we was getting concerned over slow process a few months back, but now are broker is telling us we are being told we will need to transfer to a new product? Is this normal and what is the reason for this and why will there be no attempt at an extension?  Willl this now mean we will have to go through all new paper work and pay the fees of valuation and such again because its a new product? I come on here to ask and I'm feeling a bit stressed about the situation and we haven't received any clarity from our broker yet. 

Many thanks in advance 

housebuyer143

lushshez14 said:

Hi there
I just have a question over the normal procedure of a mortgage offer extension.
 Our chain has been a bit tricky and bumpy then we anticipated (or was lead to believe) but we finally have a completion date, unfortunately it is 2 weeks after our offer runs out. What would be the normal procedure to get an extension? We applied with a broker, therefore halifax won't deal with us personally for an extension. We was originally told an extension of a month would be simple if we needed it,as we was getting concerned over slow process a few months back, but now are broker is telling us we are being told we will need to transfer to a new product? Is this normal and what is the reason for this and why will there be no attempt at an extension?  Willl this now mean we will have to go through all new paper work and pay the fees of valuation and such again because its a new product? I come on here to ask and I'm feeling a bit stressed about the situation and we haven't received any clarity from our broker yet. 

Many thanks in advance 

Banks do not need to grant extensions, although most do for a short delay. Did you maybe secure a really good rate and they do not want to honour it by granting the extension? 
I think you need to speak to your broker as anything else is just guesswork. 

kingstreet

Halifax offers don't have an end date, they have  a product drawdown date. If you are unable to achieve this, a new product is selected and a revised offer issued and the new drawdown deadline applies.

Therefore, there is no extension process. There is a new product selection and usually instant re-offer process.