Key takeaways
Mortgage offers typically last 3-6 months from issue date, giving you time to complete the conveyancing process
You can request extensions with 2-4 weeks' notice, with most lenders offering 1-3 months extra
If your offer expires, you'll need to reapply completely and may face new fees and different interest rates
Mortgage in Principle (MIP) lasts only 60-90 days for house hunting, while full offers last much longer
Lenders can withdraw offers before expiry if your circumstances change or property issues arise
Understanding the key timeframes helps you plan your property purchase and avoid last-minute panics. Here’s a breakdown of how long each stage typically lasts:
|
Stage |
Typical duration |
Notes |
|
Mortgage in principle |
60 – 90 days |
For house hunting |
|
Full mortgage offer |
3 – 6 months |
From application approval |
|
Extension (if granted) |
1 – 3 months |
Varies by lender |
Mortgage offers don’t last forever, they typically last for 3 to 6 months depending on your lender. Buying a house is exciting, but it can take time, that’s why keeping an eye on your mortgage offer expiry date is crucial
In this guide we’ll explain what a mortgage offer is, how long they last, and what to do if yours expires before you’ve taken out a mortgage.