Mortgage Offer Extension Barclays

Rb85

My mortgage offer is only valid until the 8th of April. My completion date is pencilled in for 29th of April. 

I’ve spoken to Barclays a few times now and keep getting conflicting advice. Initially they said they only extend by two weeks, so i then scheduled a new mortgage appointment - when they called the lady said “you should do an extension”. I explained what I was told about the 2 weeks but she was adamant about going for extension. My solicitor has now sent a letter in via email to them for it now. 

I called up today to see if the letter was there and received - the lady on the switch board was back to telling me about the 2 week only extension!! Then waffling on about re-keying a mortgage if the extension doesn’t get approved but this would take time and need an appointment etc…

does anyone have any experience of getting an offer extended by Barclays and do they do anything over the 2 weeks?

One week extra is what I’d be looking at on their standard 2. 

[Deleted User]

My understanding was a 2 week option via solicitors if they confirmed exchanged abd completion set.  Otherwise has to be resubmitted as a new application and new rate selected 

Rb85

Thanks. So we haven’t exchanged contracts and formally set the completion date since the offer wouldn’t be valid in time for completion. 

But it sounds like a 2 week extension is all they would give?

What’s massively annoying is that during the new application call then advisor said try extension when it sounds like there’s no chance of us getting it to the required date. 

They’ve told me that if the extension doesn’t get approved the next date for an application is early April !

[Deleted User]

Thats just ridiculous.  See a broker and you'll have the application submitted in 24 hours give or take. 

Rb85

Latest update on this is that Barclays have “approved” the extension to the 29th but now I’m told they are going to rekey the mortgage so I’m not sure exactly what’s been approved. 

Also it sounds like a rekey is a new application which could take weeks to be offered on…so I’ve no idea what I gained by the extension approval. 

Unless they turn it round in a day or so?

kingstreet

For newbuild extensions, Barclays re-keys the app itself then transfers all the supporting docs and valuation from the original app. It takes a few days, but not as long as a whole new application. 

Rb85

So the property we are buying isn’t a new build but something about 40 years old … the plot thickens!

Hopefully it’ll still be a couple of days. 

soleil86

Hi I would be really interested to know what happened to @Rb85 as I am trying (so far unsuccessfully) to get a longer than 15 days extension on my mortgage offer! Can you please let me know? Thank you