We want you to feel confident and fully informed when presenting mortgage offers to your clients.
Here are some of the key details regarding its validity, conditions, and any associated fees. Please read carefully to ensure you understand what applies to your situation.
Purchases
When we issue mortgage offers, they are valid for 6 months from the date of the offer.
The mortgage offer only applies to the property initially applied for and is not transferable to an
alternative property.
Should a purchase be lost, and a new one found, the applicant(s) will be required to pay for the
subsequent valuation. A new product may need to be selected if the original product is no longer
available.
If the mortgage offer expires, the product may no longer be available. In most circumstances we’ll be
willing to extend the offer for a further 6 months. Offer extensions are only permitted via
notification from the solicitor who should also confirm expected completion dates and are subject to
a re-inspection fee of £125.00 and verification of income and expenditure.
Remortgage
When we issue mortgage offers for remortgages, they’re valid for 6 months from the date of the
offer. If the mortgage offer expires, the product may no longer be available and a new product
may need to be selected. Offer extensions are only permitted via notification from the solicitor who
should also confirm expected completion dates and are subject to a re-inspection fee of £125.00 and
verification of income and expenditure.
Free Valuation
The society currently offers one free standard mortgage valuation per applicant(s). For any
subsequence valuations or re-inspections, the applicant(s) will be required to pay the valuation fee.