How Long Is a Mortgage Offer Valid For?

A mortgage offer is usually valid for around six months from the date it is issued, although it varies between lenders. Some offers last three or four months, while offers for new build properties are often longer, and can frequently be extended if the build is delayed.

Knowing how long your offer lasts matters more when interest rates are rising, because if it expires you may have to reapply on whatever rates are available at the time.

Typical validity periods

• Buying an existing property: commonly around six months, though some lenders offer three or four months.

• Remortgaging: often around six months, which is why many people remortgage early, well before their current deal ends.

• New build purchases: often six months or longer, and many lenders will consider an extension (see below).

The expiry date is shown on your mortgage offer. Check it as soon as you receive the offer, and share it with your solicitor or conveyancer so they can work to that deadline.

Agreement in principle vs mortgage offer

An agreement in principle (AIP) is an early indication of what a lender may lend, and it typically lasts between 30 and 90 days. A mortgage offer is the formal offer issued after full underwriting and a valuation. Our guide to AIPs, DIPs and mortgage offers explains the difference.

New build mortgage offers: why they can often be extended

New homes are frequently sold before they are finished, and building work does not always run to schedule. Delays caused by weather, materials, labour shortages or utility connections are common, and completion dates can move by months.

Lenders understand this. Many offer longer validity periods for new build purchases, and many will extend an offer if the build is delayed rather than make you start again. Where an extension is agreed, the lender will usually want to re-check certain things, for example:

• Up-to-date payslips or proof of income, and recent bank statements.

• Confirmation that your circumstances have not changed.

• A fresh credit check.

• In some cases, an updated valuation or confirmation from the developer of the new completion date.

An extension is not guaranteed, and each lender has its own policy. That is why it is important to choose a lender with suitable new build terms at the outset if you are buying off-plan or the completion date is uncertain.

What happens if your mortgage offer expires?

If your offer runs out before you complete, the lender is not obliged to lend on the same terms. You may need to:

• Ask the lender for an extension, which may involve some re-checks.

• Reapply with the same lender, which may mean a different rate if their products have changed.

• Apply to a different lender.

If rates have risen since your offer was issued, reapplying could mean a higher monthly payment, so acting before the offer expires is important.

Can a mortgage offer be withdrawn?

Yes, in some circumstances. A lender can withdraw an offer if your circumstances change significantly before completion, for example if you lose your job or take on substantial new borrowing, or if information in your application turns out to be inaccurate. Tell your adviser about any changes as soon as they happen, and avoid taking out new credit while you are waiting to complete.

Tips to avoid your offer running out

• Check the expiry date on your offer straight away.

• Keep in regular contact with your solicitor, estate agent and, for new builds, the developer.

• Tell your adviser early if completion looks likely to slip.

• For new builds, ask about the lender's extension policy before you apply.

How PMS Mortgages can help

We are a whole-of-market mortgage broker and arrange mortgages for home buyers, new build purchasers and remortgage clients. We can help you choose a lender whose offer terms fit your timescale, and manage any extension if your completion is delayed. Our mortgage advice is fee-free, and your first consultation is free and with no obligation. Get in touch to talk it through.

Information in this article was checked in November 2026 and can change at any time. All lending is subject to the lender's affordability assessment, credit checks and property valuation.

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