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House Mortgages

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dan930:
Long story..my brother is in the process in getting a mortgage from nationwide
Nationwide gave him a mortgage promise 3-4 weeks ago,& after the application
& seeing loads of paperwork etc etc,they gave him a mortgage offer yesterday
My brother would like to know is there still a chance that nationwide will decline
the loan before exchange of contracts with solicitors & the current house owner?
He's getting really stressed up for the pass few weeks

lukemk5gti:
Typically mortgage approval only lasts a set period of time but it depends on the bank. Can be anything from 30 days upward.

I wouldn't worry too much though, if they approved him in the past and circumstances haven't changed then he'll get approval without any issue second time around. Think there might also be a retention or extension application available.

garrardrj:
Why not ask them how long it lasts for? If they have made an offer they can still refuse if anything is not correct on the application.

TAPPY:
On their website it says

How long are offers valid for?
Remortgage offers are valid for 90 days.
House purchase offers are valid for 180 days. This includes applications for new build properties (whether completed or not).

If unsure of anything I would tell him to call nationwides mortgage advisor and speak to them as they should have enough given him contact details ( well the did for me) hope this helps

Degudodger:
Our offer was extended twice was valid for 6 months!

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