Santander confirms mortgage offer extension policy

by Aaron Strutt

Mar 31 2020

Santander has confirmed its policy following the recent announcement from UK Finance to extend mortgage offers. 

The bank has said that all borrowers at pre-exchange of contacts will automatically be granted a two-month mortgage offer extension to enable them to complete if their applications were submitted prior to 9pm on Tuesday 31 March. 

Any cases submitted from 6am on Wednesday 1 April will not be eligible for the two-month mortgage offer extension and these cases will be processed in line with our existing offer validity.   

For post-exchanges of contracts, all mortgage offers will be granted a three-month extension to enable them to complete.  

Last week UK Finance announced that lenders should give customers impacted by Covid-19 who have exchanged contracts the option to extend their mortgage offer for up to three months to enable them to move at a later date. 

Source: Santander

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