How Long a Mortgage Offer Lasts (And When It Can Be Extended)

A formal mortgage offer is a major step, but it has an expiry date. The exact validity period is set by the lender and the offer itself, not by one universal UK rule.

This guide explains what that date means, when an extension may be possible, and what to do if conveyancing, a chain or a new-build delay puts completion at risk. It is general information, not mortgage or legal advice.

Check the expiry date on the actual mortgage offer. Do not rely on a generic "six-month rule".

If completion is getting close to that date:

1. tell your broker or lender immediately;
2. tell your solicitor or conveyancer the exact expiry date;
3. ask the lender what it needs for an extension;
4. provide updated documents promptly; and
5. do not assume an extension is automatic.

MoneyHelper says lenders can often extend an offer, but the lender decides whether to do so. An extension can require fresh checks, and if an offer expires before completion you may need to reapply.

An agreement in principle is an early indication of possible borrowing. A formal mortgage offer comes later, after the lender has assessed the full application and the property.

That distinction matters because an AIP expiry does not have the same consequence as a formal offer expiring during a live purchase.

If you are still at the AIP stage, read our guide to whether an agreement in principle leaves a hard credit search before making several applications.

Lenders choose their own validity periods and can apply different periods to different transaction types.

For example, a lender can have separate rules for:

• ordinary house purchases;
• remortgages;
• new-build purchases;
• additional borrowing; and
• particular mortgage products.

Some lenders measure validity from the date of the offer. Others can also impose a product completion deadline. The only date that matters to your transaction is the date shown in your offer or confirmed by the lender.

A mortgage offer is based on a particular snapshot of the case: the applicants, their finances, the property, the valuation and the lender's criteria.

As time passes, parts of that evidence can become stale. A lender may therefore want to recheck matters such as:

• income and employment;
• credit commitments;
• the property valuation;
• the source or amount of the deposit;
• the purchase price;
• the mortgage product; and
• material changes in circumstances.

An expiry date is therefore not merely an administrative timer. It limits how long the lender is prepared to rely on the underwriting already completed.

Ask before the offer expires.

MoneyHelper recommends contacting the lender in writing with at least a few weeks' notice. In practice, earlier is better where the reason for delay is already known.

Common warning signs include:

• the chain has not exchanged;
• searches or enquiries remain outstanding;
• a leasehold management pack is delayed;
• the seller has not resolved a legal issue;
• a new-build completion date has moved;
• a Scottish transaction has a delayed entry date; or
• your solicitor says completion cannot happen before the offer date.

If you are buying a new build, see our dedicated guide on what happens when a new build delay threatens the mortgage offer.

An extension is not guaranteed, and the lender may not simply change one date on the existing offer.

Depending on the lender and how old the case is, it may ask for:

• recent payslips or income evidence;
• fresh bank statements;
• updated self-employed documents;
• a new credit check;
• a refreshed affordability assessment;
• confirmation that the purchase price is unchanged;
• a valuation update or new valuation; or
• selection of a currently available mortgage product.

This is why a delay can sometimes change the economics of the transaction, even where the borrower has done nothing wrong.

An existing formal offer is not automatically cancelled just because the lender later withdraws that rate from sale.

The problem arises if the lender's extension rules require a new application or a new product rather than simply extending the existing offer. In that situation, the replacement deal can be different.

Ask one precise question:

"Will extending this offer preserve the existing product, rate and fees, or will I need to choose a current product?"

Get the answer in writing if the rate matters to your decision.

Do not complete on the assumption that the money will still be available.

If the offer has expired, the lender may:

• grant a late extension;
• require updated underwriting;
• issue a replacement offer;
• require a new application; or
• decline to continue.

Your solicitor will normally need a valid mortgage offer and confirmation that funds can be requested before completion.

Our mortgage offer-to-completion timeline explains what still has to happen after the offer is issued.

It can.

Whether a fresh search is needed depends on the lender's extension process and how much of the underwriting it repeats. Do not assume an extension is credit-search free.

If a lender proposes a full reapplication, ask whether the next check will be soft or hard. Our guide on hard searches versus soft searches explains the difference.

Tell the lender or broker.

Examples include:

• changing jobs;
• losing income;
• taking new credit;
• increasing credit balances materially;
• changing the deposit;
• changing the purchase price; or
• changing who is applying.

A valid-looking expiry date does not remove the obligation to provide accurate information. A material change can require the lender to reassess the case before it will release funds.

As soon as the offer arrives, record:

Then review the date whenever the legal transaction slips.

Browse all our mortgage guides.

• MoneyHelper — How long do mortgage offers last?
• FCA Handbook — MCOB 11, responsible lending
• Nationwide for Intermediaries — Essential criteria and offer validity
• Santander for Intermediaries — Offer extensions

Related: Mortgage Process: Offer to Completion | New Build Delayed | Mortgage Offer Withdrawal.