A mortgage offer has a strict expiry date. If your purchase or remortgage isn’t completed in time, here’s what happens and how to handle it.
How Long Mortgage Offers Last
| Lender Type | Typical Offer Period |
|---|---|
| Most high-street lenders | 6 months |
| Some lenders | 3 months |
| New build purchases | 6-9 months (to allow for construction) |
| Remortgages | 3-6 months |
The exact expiry date appears on your mortgage offer letter. Mark it in your calendar immediately.
Why Offers Expire
Mortgage offers have time limits because:
- Interest rates change — the rate you were offered may no longer be commercially viable
- Your circumstances may change — income, debts, employment
- Property values fluctuate — the original valuation may no longer be accurate
- Regulatory requirements — affordability assessments have a shelf life
Common Reasons for Delays
| Reason | How Common |
|---|---|
| Slow conveyancing | Very common — solicitor delays |
| Chain delays | Your buyer’s buyer is delayed |
| Search delays | Local authority searches taking weeks |
| Survey issues | Problems found requiring negotiation |
| New build not ready | Construction delays |
| Seller delays | Seller not ready to move |
| Leasehold complications | Additional legal work needed |
What Happens When the Offer Expires
Scenario 1 — You Can Get an Extension
Most lenders allow extensions:
- Contact your lender or broker before the offer expires
- Request an extension (typically 1-3 months)
- The lender may re-run affordability and credit checks
- They may offer the same rate or require you to take a current rate
- Extensions are not guaranteed
Scenario 2 — Extension Not Available
You’ll need a completely new mortgage application:
- Fresh application with the same or different lender
- New credit check (hard search on your credit file)
- New affordability assessment
- Potentially a new property valuation
- New interest rate — which may be higher or lower than before
Scenario 3 — Rates Have Risen
If interest rates have increased since your original offer:
- Your monthly payment will be higher
- You may qualify to borrow less (lower loan amount passes affordability)
- You might need a larger deposit percentage
- In extreme cases, you may no longer afford the property
Impact on Your Purchase
| Situation | Risk Level | What Happens |
|---|---|---|
| Extension granted, same rate | Low | Minor delay, same terms |
| Extension granted, new rate | Medium | Higher payments, same property |
| New application needed | High | Delay of 4-8 weeks; new checks |
| New application, rates risen significantly | Very high | May not be able to afford the property |
Fees You May Lose
| Fee | Refundable? |
|---|---|
| Arrangement/product fee | Usually not refundable if paid upfront |
| Valuation fee | Not refundable |
| Booking fee | Not refundable |
| Conveyancing fees | Partially — you’ve paid for work done |
| Survey fee | Not refundable |
If you reapply with the same lender, ask if they’ll waive or credit fees from the expired application.
How to Avoid Expiry
Before Applying
- Choose a lender with a longer offer period (6 months over 3)
- For new builds, ensure the offer period covers the estimated completion date
- Ask your broker about extension policies before committing
During the Process
| Action | When |
|---|---|
| Chase your solicitor regularly | Weekly from offer onwards |
| Set calendar reminders | At 3 months, 2 months, and 1 month before expiry |
| Escalate delays early | Don’t wait until the last week |
| Keep your broker informed | They can chase the lender |
| Respond promptly to enquiries | Don’t let your side cause delays |
If Delays Are Likely
- Contact your lender/broker at least 4-6 weeks before expiry to discuss extension
- Get your solicitor to provide a realistic completion timeline
- If a chain break or major issue occurs, start exploring a new application immediately
Remortgage Offers
For remortgages, the timeline is usually tighter:
- Offers typically last 3-6 months
- You can often apply up to 6 months before your current deal ends
- If the remortgage offer expires, you may roll onto your lender’s Standard Variable Rate (SVR) while sorting a new deal
- SVR rates are typically much higher than fixed or tracker rates
Related Guides
- Mortgage Application UK 2026 — Step-by-Step Guide from AIP to Completion
- Mortgage Calculator
- Remortgage Step-by-Step Guide
- First-Time Buyer Guide
Your home may be repossessed if you do not keep up repayments on your mortgage. PocketWise provides information and guidance, not financial advice. Seek independent mortgage advice before making decisions about borrowing.