Residential policy
Validity
Offers are valid for 180 days. For new build it’s 210 days.
Amendments
We can usually make changes to existing offers if you need to amend things like the term, loan amount, repayment method, or purchase price. Just contact us to let us know what you need to change. Where this requires a change to product, the range used should be our current new business range.
We allow a change of product using the current product range as many times as needed prior to completion. This can be pre-offer or post-offer, up until we have received the Certificate of Title from the solicitor. We can’t make changes to the product after the COT has been received. If it’s just the product you need to change, our mortgage product switch form is the easiest way to do it.
Some changes need a brand new application. These include a change of property, adding or removing applicants, or changing the application type from residential to BTL and vice versa.
Extending an offer
Offer extensions are not available for non-new build properties. Instead, we require a brand new application including new product and valuation. A new valuation fee will apply if selecting a product with a valuation fee. Any product fee paid can be transferred to the new application.
For new build properties we can extend offers for a further 210 days and will require up to date documentation, a new on sale product to be selected and re-assessment against current criteria.
We will also refer to the valuer to determine whether the original valuation report can be used, an updated valuation figure should be used or a reinspection is required. This will not result in additional product or valuation fees.