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Mortgage offer extension query
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Darrenjohn1991
Posts: 3 Newbie
Hi guys hope you can help,
We've been told by our solicitor we should get our mortgage advisor to get an extension on our current mortgage offer as there's a chance it could expire before completion.
I've put this question to our advisor and he's come back saying it can get be extended but would need to be a new product and a new interest rate..
Is this correct? I thought extensions on new builds would be fairly common. We haven't exchanged yet and completion isn't until September. Any help would be great!
Mortgage is with NatWest
We've been told by our solicitor we should get our mortgage advisor to get an extension on our current mortgage offer as there's a chance it could expire before completion.
I've put this question to our advisor and he's come back saying it can get be extended but would need to be a new product and a new interest rate..
Is this correct? I thought extensions on new builds would be fairly common. We haven't exchanged yet and completion isn't until September. Any help would be great!
Mortgage is with NatWest
0
Comments
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NatWest permits two three months extensions without a change of product. Here is the newbuild offer extension request;-
https://www.intermediary.natwest.com/content/dam/natwest_com/Intermediary/PDFs/20210113NWISNewBuildSRVFINAL.pdf
Note, you cannot request an extension until within 30 days of expiry.
Your advisor is confusing NatWest with Santander or Halifax who do require a change of product.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.1 -
what about skipton how long can they extent mortgage offer for dont think i will be completing soon as probate on property is being sorted offer expires in 2 months.0
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