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Mortgague offer due to expire before completion

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  • Mortgague offer due to expire before completion

    Could anyone help me with my current problem.My mortgague is due to expire soon and my solicitor says he is doing everything to speed up replies from the local council before exchange of contracts for my leasehold flat purchase.The council are very slow to respond to one question which prevents my mortgague offer going through ?.

  • #2
    Re: Mortgague offer due to expire before completion

    Hi there,

    Has your solicitor or mortgage adviser tried requesting an extension of the offer expiry date from the lender?

    Most lenders will extend a mortgage offer at least once to allow for just such an eventuality.
    ____________________________________________
    Property for sale in Torquay

    www.thomasdobner.co.uk

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    • #3
      Re: Mortgague offer due to expire before completion

      No does anyone know how long an extension will last or is it advisable to approach the council myself for some action ?.

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      • #4
        Re: Mortgague offer due to expire before completion

        You just need to check the mortgage lender mate, explain the delays and they will tell you how long they are happy to extend the offer for.

        Good luck

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        • #5
          Re: Mortgague offer due to expire before completion

          Hi Hamilton,

          First of all I would advise you to speak to your mortgage lender or the adviser that has dealt with the mortgage application for you. As Dan has said, you need to explain the situation to them and ask for the offer to be extended whilst your solicitor is waiting for the info from the council.

          Your solicitor may also be able to talk to the lender for you as their input may carry more influence over the lender than just your own request to them would.

          If you can get the offer extended by a month or two then this will take the pressure off a little and you can then chase up the council without so much stress on the situation.

          If the lender will not grant an extension then by all means get on the council yourself, or even go and visit the office and refuse to leave until the issue is resolved. Make sure you go armed with knowing exactly what information your solicitor is waiting for, and find out which department, or better still which person, you need to speak to.

          Good luck
          ____________________________________________
          Property for sale in Torquay

          www.thomasdobner.co.uk

          Comment


          • #6
            Re: Mortgague offer due to expire before completion

            Thanks for the tips and luck i will make good use of them.

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            • #7
              Re: Mortgague offer due to expire before completion

              Hope you got on ok, i had the same issue and got an extension a few years ago

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