Halifax offering a month extension

TTM

Our mortgage offer from Halifax (5 year fixed) expires on the 30th September and our chain is moving slowly, so there's a possibility we won't exchange and complete in time.  We have been informed by our MA that Halifax are now offering a one month extension if required, which is obviously great news and would take a lot of the stress out of this situation.

Before we ask our solicitor to apply for this extension though, I wanted to ask if there are any downsides to this.  Anything we should be aware of first?

Many thanks.

K_S

TTM said:

Our mortgage offer from Halifax (5 year fixed) expires on the 30th September and our chain is moving slowly, so there's a possibility we won't exchange and complete in time.  We have been informed by our MA that Halifax are now offering a one month extension if required, which is obviously great news and would take a lot of the stress out of this situation.

Before we ask our solicitor to apply for this extension though, I wanted to ask if there are any downsides to this.  Anything we should be aware of first?

Many thanks.

@ttm Downsides of extending the offer-validity (complete-by date for Halifax) retaining the same product and rate? I can't think of any but if you are still concerned, you should drop your solicitor this question before requesting for an extension.

TTM

Thanks for replying.

The only point our solicitor raised was that it could take up to a week for the new extended offer to be available on the portal, so if exchange and completion needed to suddenly happen that could be an issue.  However that's very unlikely.

I was concerned that Halifax might want to re check everything and maybe do another valuation or something.  I'm just paranoid I think as we are so close and don't want to do anything that might throw up an issue right at the last minute.

[Deleted User]

Have you took out any additional credit/borrowing since you got your offer in ?

TTM

@Deleted_User

No, I've not taken out any additional credit