Can you extend a mortgage offer?

Key takeaways

• Most mortgage offers last between 3 to 6 months.
• Lenders often grant extensions (typically 30-45 days) if requested at least one month before expiry.
• Lenders may re-run credit and affordability checks when an extension is requested.
• Changes in employment, new debt, or relationship status can lead to an extension being refused.
• If an extension is denied, you will likely need to reapply for a new mortgage at current market rates.

How long do mortgage offers last?

Most mortgage offers stay valid for 3 to 6 months. Some lenders start the clock from the application date, others from the date the offer is issued. New-build buyers may get up to 9 months. Always check the expiry date printed on your offer letter so you can plan.

Why do mortgage offers expire?

A mortgage offer usually provides enough time for conveyancing and surveys, but several factors can cause delays:

• Chain issues: Problems with other buyers or sellers in the chain pulling out or using slow solicitors.
• New build delays: Material shortages, contractor illness, or bad weather affecting construction timelines.
• Administrative bottlenecks: Delays from surveyors or conveyancers during the legal process.

You must formally complete the purchase before the mortgage deadline for your mortgage offer to still be valid, otherwise you’ll need to get a mortgage offer extension, or reapply.

Your best bet is to stay in regular contact with the developers, conveyancers, and surveyors to help keep things moving.

But if a mortgage offer expires before everything is finalised, you can request a mortgage offer extension by completing the following steps:

How to get a mortgage offer extension

Act early and follow these simple steps:

1. Contact your lender right away. Aim for at least four weeks’ notice.
2. Send up-to-date documents. Recent payslips, bank statements and ID help the lender repeat affordability checks quickly.
3. Be ready for a fresh valuation. If the first survey is older than 6 months, the lender may need a new one.
4. Keep everything in writing. Ask the lender to confirm the new expiry date and share the letter with your solicitor.

Staying proactive shows the lender you’re still a serious buyer and can prevent a last-minute re-application.

The good news, banks and building societies know how complicated the home buying process is, so they’ll often be understanding. You’re not the first person to face obstacles when buying a property, and you won’t be the last! So try not to lose any sleep when you’re approaching your mortgage offer deadline. Instead of panicking, be proactive.

How long can a mortgage offer be extended?

Policies vary by lender; most lenders offer a first extension of 30-45 days. For new-build purchases, extensions can stretch to 90–180 days to allow for building delays. Some lenders limit you to one extension; others allow more if your finances stay the same.

Always check the expiry date on your offer letter and confirm the lender’s exact rules before you rely on an extension.

Does it cost to extend a mortgage offer?

Lenders usually waive admin fees for a simple extension. The main expense can be an updated valuation, typically £150–£400. If you have to submit a brand-new application, you might also pay a fresh product or arrangement fee.

Why do lenders refuse mortgage offer extensions?

While lenders tend to be understanding and most will extend your mortgage offer, it's worth knowing they're not required to do so. There are lots of reasons why a mortgage offer extension might be rejected. One of the most common reasons is that your financial circumstances have changed.

For example, a request may be rejected if you’ve:

• Changed jobs
• Taken on large amounts of credit card debt or personal loans
• Become self-employed
• Got pregnant or had a baby
• Broke up with your partner who you were planning on buying the property with

What to do when a mortgage offer extension is refused

If your extension request is refused, follow these steps:

1. Re-apply for a mortgage: You will likely need to submit a fresh application, which may involve new property valuations. It might be that your best deal isn’t with the same lender you got your first mortgage offer from, so see your best options first.
2. Compare current rates: Market conditions may have changed since your first offer; check if better deals are now available. Compare today’s best deals here.
3. Consult a broker: An experienced mortgage expert (like one of our award-winning team) can help you navigate rising interest rates and find lenders that suit your updated financial situation. Get started here.

The mortgage industry is fast-paced, and new deals are being created all the time. The best mortgages available to you today may differ from the best mortgages on the market when you submitted your original mortgage application.

However, the constantly changing market can work against you too, especially when interest rates are on the rise. Your next mortgage offer may be more expensive than the first one, and you could end up paying more for the loan.

A good mortgage broker will help borrowers by comparing dozens (or in our case, thousands) of mortgage deals to find the best option.

Our award-winning team of mortgage experts have helped thousands of people – from first-time buyers to remortgagers to aspiring landlords – discover how they could buy or refinance their dream home. Get started today.

Can a mortgage offer expire between exchange and completion?

Yes, a mortgage offer can expire between exchange and completion, especially if there have been delays along the way.

If this happens, contact your lender straight away to request an extension.

If your mortgage offer expires before completion and you can't get an extension, you'll need to factor in some additional costs. For example, you'll need to pay for a new property valuation, and your solicitor's fees might increase too.

Working with a mortgage broker can help you avoid this situation. They’ll guide you through every step of buying a house and keep you on track with important deadlines like your mortgage offer expiry date. That way, you can act fast if there are any delays.

If the expiry date is already imminent and you don’t have a broker yet, there are still options available. Get started with Tembo today by completing your details online. If it’s not possible to get a mortgage extension, we can help you find the best mortgage deal for you from across the current market.