Chances of mortgage offers being extended at the same rate - slim?

BSW89

Our buyer's mortgage offer (equity release, if it matters) is about to expire and we've not managed to exchange yet (because her solicitor and the separate solicitor her lender appointed have been very slow, and her mortgage offer was only valid for 3 months anyway). 

We are hoping she has applied for an extension but don't know. Even if she has, I'm worried it will be rejected and she will end up pulling out rather than accepting a higher rate.

Our own mortgage offer runs out at the end of November so we have a bit of time but it's not that long to find a new buyer and complete conveyancing.

With everything in the press at the moment about lenders pulling mortgage products, I'm assuming this also means they'll be reluctant to extend existing offers at rates locked in months ago?

kingstreet

Many ER offers have a 42 day validity with 42 days extension available at same rate. New rate is required after that. This applies to some More2Life, some Canada Life and Standard Life products. 

BSW89

kingstreet said:

Many ER offers have a 42 day validity with 42 days extension available at same rate. New rate is required after that. This applies to some More2Life, some Canada Life and Standard Life products. 

Really? That suggests she may have already got the first extension and won't get another. Is it ever realistic to expect a chain to complete and a transaction to go through in that time frame? And if so, surely our estate agent would know that and should be expected to mention it when we were deciding whether to accept the offer? (All the estate agent told us was "she requires a small mortgage" - we only believe it's an ER because the surveyor mentioned it.)