Natwest extension and moving over mortgage offer to another propery

Giggidy

It's looking likely that our chain is about to fall apart with our purchase. Both us and our buyers have mortgage offers from Natwest, ours is valid until January, theirs until November. We are hoping to offer on a chain free home, our buyer is obviously very nervous, even with an extension, its still only until December.

Are Natwest still giving extensions with mortgages now being pulled, and would they entertain moving a mortgage offer from one property to another, provided it doesn't fall outside their lending criteria, etc. Our broker told us before this would be ok, but just worried things may have changed drastically recently.

K_S

@giggidy Your broker is correct. You can change properties on a NatWest offer, the offer validity resets to 6 months from the date of the reissued offer. At the end of it, you can apply for a further 1 month extension if needed.

Nothing has changed in this regard yet, and unless things go drastically south from here, I wouldn't expect any changes for a large bank lender like NatWest. Having said that, I didn't expect all the recent turmoil in the market, so what do I know!

Giggidy said:

It's looking likely that our chain is about to fall apart with our purchase. Both us and our buyers have mortgage offers from Natwest, ours is valid until January, theirs until November. We are hoping to offer on a chain free home, our buyer is obviously very nervous, even with an extension, its still only until December.

Are Natwest still giving extensions with mortgages now being pulled, and would they entertain moving a mortgage offer from one property to another, provided it doesn't fall outside their lending criteria, etc. Our broker told us before this would be ok, but just worried things may have changed drastically recently.

Giggidy

K_S said:

@giggidy Your broker is correct. You can change properties on a NatWest offer, the offer validity resets to 6 months from the date of the reissued offer. At the end of it, you can apply for a further 1 month extension if needed.

Nothing has changed in this regard yet, and unless things go drastically south from here, I wouldn't expect any changes for a large bank lender like NatWest. Having said that, I didn't expect all the recent turmoil in the market, so what do I know!

Giggidy said:

It's looking likely that our chain is about to fall apart with our purchase. Both us and our buyers have mortgage offers from Natwest, ours is valid until January, theirs until November. We are hoping to offer on a chain free home, our buyer is obviously very nervous, even with an extension, its still only until December.

Are Natwest still giving extensions with mortgages now being pulled, and would they entertain moving a mortgage offer from one property to another, provided it doesn't fall outside their lending criteria, etc. Our broker told us before this would be ok, but just worried things may have changed drastically recently.

Thank you, thats reassuring at least that they do and even better, a 6 month extension from the date of change over too. Just a shame our buyer could not extend beyond 1 month, it would take the pressure off a bit for sure. Thanks again