A mortgage offer usually lasts between three and six months, with most UK lenders setting a validity period of around six months from the date the offer is issued. The exact window depends on the lender, and it is measured from when the offer is made rather than from when you applied, so it is important to know your specific expiry date and plan your completion around it.
This guide explains how long a mortgage offer lasts, what happens if it expires before you complete, whether you can extend it, and how to avoid running out of time.
How long does a mortgage offer last?
Most residential mortgage offers are valid for around six months, though some lenders set the period at three months, and a number will confirm a slightly different window in their offer documents. For new build purchases, lenders sometimes issue longer offers or an extension facility, because construction can take longer than a standard purchase. The key figure is the expiry date printed on your offer, as everything is measured from the offer date, not your application date.
Why do mortgage offers have an expiry date?
An offer is based on your circumstances and the property valuation at a particular point in time. Lenders set an expiry date so they can be confident the information is still current at completion. If too much time passes, your income, credit position, or the property value could change, so the offer is time-limited to keep the lending decision accurate and responsible.
What happens if your mortgage offer expires before you complete?
If your offer expires before completion, you cannot draw down the funds and the purchase cannot proceed on that offer. In practice you would need the lender to extend the offer or to reissue a new one, which usually means an updated assessment of your circumstances and sometimes a fresh valuation. This can cause delays and, in a chain, put your purchase at risk, so it is best avoided by tracking the date closely.
Can you extend a mortgage offer?
Many lenders will consider a short extension, particularly if the delay is outside your control, such as a slow conveyancing chain. An extension is not guaranteed and the lender may re-check your income, credit file, and the valuation before agreeing. Some will decline an extension and instead ask you to reapply. Requesting an extension early, before the offer lapses, gives you the best chance of a smooth outcome.
How to avoid your mortgage offer running out
Instruct your solicitor promptly, respond quickly to any requests for documents, and keep in regular contact with everyone in the chain. Avoid making changes that could affect the lending decision, such as taking on new credit or changing jobs, while the offer is live. If it becomes clear completion will slip beyond the expiry date, speak to your broker or lender straight away rather than waiting for the offer to lapse.
Does a mortgage offer guarantee completion?
A formal mortgage offer is a strong commitment from the lender, but it can still be withdrawn if your circumstances change materially before completion, for example a change of job, new debts, or missed payments. Keeping your financial position stable between offer and completion helps protect the offer.
How long does a new build mortgage offer last?
New build purchases often take longer, so some lenders issue longer offers or allow an extension specifically for new builds, sometimes giving a total window of up to around nine months once an extension is applied. Because completion depends on the developer finishing the property, it is worth confirming the new build offer terms at the outset and asking the lender how any extension would work if the build overruns.
Mortgage offer vs agreement in principle: how long does a mortgage in principle last?
An agreement in principle is an early indication of how much a lender might lend, and it typically lasts a shorter period, often around 30 to 90 days. A formal mortgage offer comes later, after a full application and valuation, and is a firm commitment with its own longer validity period. The two are separate stages, and the expiry of an agreement in principle does not affect a mortgage offer you already hold.
What happens to your interest rate if the offer expires?
Your rate is tied to the specific product in your offer. If the offer lapses and you reapply, you may not be able to get the same product, and you would be offered whatever rates are available at that time, which could be higher or lower. This is another reason to complete within the offer window where possible, and to act early if a delay looks likely.
Frequently asked questions
How long is a mortgage offer valid for?
A mortgage offer is usually valid for around six months from the date the offer is issued, although some lenders set validity at three months and a small number run longer. The validity period is printed on the offer document itself, so that date is the one that matters rather than any general rule. Once it passes, the offer lapses and the lender has to extend or reissue it.
Can I extend my mortgage offer if my purchase is delayed?
Often yes, if you ask before it expires. The lender may re-check your income, credit and the valuation, and an extension is not guaranteed.
Does the offer period start from when I applied?
No. It runs from the date the offer is issued, not the date you applied, so the clock may already have been running for a while.
What if my offer expires before completion?
You would usually need the lender to extend or reissue the offer, which can involve a fresh assessment and valuation and may delay the purchase.
If your completion date is at risk, speak to our team via the meet our team page or read more in our mortgage, property and money advice hub.
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Your home may be repossessed if you do not keep up repayments on your mortgage. Needing Advice is an independent, FCA-regulated mortgage broker. This article is general information only and does not constitute financial or mortgage advice. Availability and lender criteria vary and can change, and any arrangement depends on your individual circumstances. There is no obligation, and we recommend seeking personalised advice before making any decision.
Damian Youell
Damian is the founder of NeedingAdvice.co.uk and the firm’s Senior Mortgage Broker. He specialises in helping clients across the UK with straightforward and complex mortgage cases, including self-employed applications, adverse credit, buy-to-let, remortgages and first-time buyer mortgages.
Alongside mortgage advice, Damian also supports business owners with protection planning, including Relevant Life Policies, Shareholder Protection and Keyperson Cover.
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