![]() The most important thing to do if you’re close to completing the purchase and a setback occurs is to speak to your mortgage adviser or lender as soon as possible. Is a mortgage offer extension possible?īanks and building societies know that buying a property can be a complicated process, with things often taking longer than anticipated, it is likely that most lenders will let you extend your mortgage offer if you need to. This will vary lender to lender, and don’t think that because you’ve accepted the offer that the clock stops you’ll still need to complete your purchase before the deadline is up. Most mortgage offers can last anywhere from 3 to 6 months from the issue date. ![]() Unfortunately this doesn’t always happen if the finalisation of the purchase takes longer than initially planned. You may not be aware, but all mortgage offers come with an expiry date, meaning that the purchase of your property should be complete before this date passes. We’re here to explain what your options are if your mortgage offer expires between exchange and completion, and whether extending your mortgage offer is possible. Are you thinking of taking your first step on the housing ladder? A key part of the process involves securing the right mortgage deal as a first time buyer, but what happens if things don’t go to plan and your purchase takes longer to go through than you first hoped?
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |