How Long Does a Mortgage Offer Last, and What If Your Move Slips Past Christmas?

Most UK mortgage offers are valid for around six months from the date they are issued, although some lenders give three months and some allow longer on new builds. If your completion looks like slipping past Christmas and the offer is close to expiring, your broker can ask the lender about an extension or a fresh application. Extensions are at the lender's discretion.

Getting a mortgage offer feels like the finish line. In reality, it starts a clock. Every offer has an expiry date, and if you have not completed by then, the lender is under no obligation to lend on the same terms.

For most buyers the deadline never becomes a problem. It matters when a chain stalls, a survey throws up issues or the conveyancing drags. Late in the year, the Christmas and New Year break adds another squeeze, with solicitors, lenders and removal firms all working reduced days.

This guide explains how long offers usually last, what happens if yours runs out, and what you can do now if your move is at risk of slipping into the new year.

How long does a mortgage offer last in the UK?

Each lender sets its own validity period, and it is printed on your offer. As a general guide:

Type of purchase	Typical offer validity
Standard purchase	Around 6 months, sometimes 3 to 4 months
Remortgage	Often shorter, commonly 3 to 6 months
New build	Sometimes longer, to allow for build delays

In most cases the clock starts on the day the offer is issued, not the day you applied or the day you found the property. That is why it pays to check the exact expiry date on your offer as soon as it arrives.

How does that fit with the rest of the process?

As we explain in our guide to how long a mortgage application takes, a full application usually takes 2 to 4 weeks, the valuation 1 to 2 weeks and conveyancing typically 4 to 8 weeks. On a simple purchase, six months leaves plenty of room. In a long chain, or with a leasehold flat where management packs are slow to arrive, the margin shrinks quickly.

Will Christmas delay my house purchase?

It can. The weeks around Christmas are some of the hardest in the property calendar to complete in. The main reasons are:

• Bank holidays. Money moves between lenders and solicitors on working days only, so nobody completes on Christmas Day, Boxing Day or New Year's Day.
• Reduced office hours. Many conveyancing firms, lenders and local authority search teams close or run skeleton staff between Christmas and New Year.
• Chain pressure. Every buyer and seller in the chain is dealing with the same shutdown, and a single delay can hold up everyone.
• Removal firms. Availability in the last fortnight of December is limited and books up early.

If you are hoping to move before Christmas, the most useful thing you can do is keep in close contact with your solicitor and respond quickly to any requests. If December is looking unrealistic, it is better to agree a January completion date early than to rush and risk the chain collapsing.

What happens if my mortgage offer expires before completion?

If the offer expires before you complete, the lender does not have to release the funds. You will then need either an extension from the same lender or a new mortgage offer.

That can bring knock-on effects:

• A new application may be needed, with fresh payslips, bank statements and a new credit check.
• The rate may change. If the original product has been withdrawn, any new offer will be based on what the lender has available at the time, which could be higher or lower.
• A new valuation may be needed, which could mean another fee.
• Your circumstances matter. A change of job, a drop in income or new credit commitments since the original application can affect whether a lender will lend again.

Lenders can also review or withdraw an offer before it expires if your circumstances change or information turns out to be incorrect, so tell your adviser about any changes straight away.

Can a mortgage offer be extended?

Sometimes. Some lenders will consider an extension, often for a short period, if completion is delayed for a reason outside your control. It is never guaranteed, and the lender may ask for updated documents or carry out new checks before agreeing.

If your offer is close to expiring, ask early. An adviser can contact the lender on your behalf, explain the delay and find out what the options are. If an extension is not possible, we can look at whether a new offer from the same lender, or a different lender, makes more sense.

If you are a home mover, your existing mortgage may also be part of the picture. Our guide to porting your mortgage explains how that works if you are taking your current deal with you.

How to stop your offer running out

A little planning keeps most purchases well inside the deadline:

1. Know your date. Note the expiry on your offer and share it with your solicitor and estate agent.
2. Instruct a solicitor early. Many delays start before the offer is even issued.
3. Respond quickly. Return forms, ID and payments to your solicitor as soon as they are asked for.
4. Keep your finances steady. Avoid new credit, changing jobs without telling your adviser, or large unexplained transactions until you have completed.
5. Watch the chain. Ask your agent for regular updates on the buyers and sellers above and below you.
6. Raise concerns early. If you can see the date getting close, tell your adviser while there is still time to act.

First-time buyers have one advantage here, with no property to sell. Our first-time buyer mortgage advice covers the full journey, and our guide to mortgage in principle rejections explains the checks that trip people up before an offer is even issued. If you are selling and buying, see our home mover mortgage page.

Frequently asked questions

When does a mortgage offer start counting down?

In most cases the validity period runs from the date the offer is issued. Your offer document will show the exact expiry date, so check it as soon as you receive it and share it with your solicitor.

Can I exchange contracts if my offer is about to expire?

Your solicitor will want to be confident you can complete before the offer expires. If the completion date would fall after the expiry, they will usually advise you to sort out an extension or new offer before you exchange.

Will my rate change if I need a new offer?

It might. If the original product is no longer available, a new offer will be based on the lender's current rates and criteria. These could be higher or lower than your original deal.

Does a mortgage in principle expire too?

Yes. A mortgage in principle, sometimes called an agreement in principle, is usually valid for a limited period set by the lender. It is not a formal offer, and the lender will carry out full checks when you apply.

Can a lender withdraw my offer?

Yes. A lender can withdraw an offer before completion if your circumstances change, for example a change in income, or if information in the application turns out to be inaccurate. Keep your adviser informed of any changes.

If your move is at risk of slipping past Christmas, or your offer expiry is getting close, our advisers can check your timings and talk you through the options. Speak to our team for a no-obligation chat about your mortgage options.

Your home may be repossessed if you do not keep up repayments on your mortgage.