Santander has temporarily extended its mortgage offers by a month due to increased application volume.
Remortgage and purchase clients have been automatically granted a temporary mortgage offer extension as follows:
- A one-month maximum extension, however the case must complete by 31 January 2023 subject to a satisfactory valuation (excludes Mortgage Guarantee Scheme products which must complete by 30 November 2022)
- The offer extension will be based on the offer expiry date
- Our solicitor panel has been made aware of this extension on Lender Exchange.
- There is no need to apply for or contact us about this one-month extension.
Santander is taking an average of 11 days to offer applicants residential mortgages and 14 days to offer buy-to-let mortgages at present.
In a statement, Santander said: “Due to continued high demand in the mortgage market and to allow more time for transactions to complete we’re temporarily extending mortgage offers by one month for purchase and remortgage customers.
“This will help ensure that customers are able to complete on their mortgage at the original rate. The offer extension is automatic so there is no requirement to apply for it or contact us.”
