Skipton Building Society has extended the validity period of its standard mortgage offer from six months to nine months.
According to Skipton, the goal of the extension is to give customers more time to complete their home purchase and reduce unnecessary stress when transactions experience a delay.
This applies to residential property purchase, remortgage and buy-to-let offers, which will now be valid for nine months instead of six.
Additional borrowing offers will also be extended from one month to three months
Head of Lending at Skipton Building Society, C Farrell Roberts, says: “Buying a home is one of the biggest financial and emotional commitments people make, but the journey from viewing to completion doesn’t always go according to plan. Property chains and legal delays can create uncertainty through absolutely no fault of the client.”
“That’s why we’re extending our standard mortgage offers from six to nine months. It’s about giving customers greater certainty and breathing room, reducing pressure on brokers and removing unnecessary friction from the process.”
“We could see that customers with perfectly viable purchases were having to reconsider parts of the mortgage process simply because their transactions took longer than expected. This is a practical change designed around the realities of buying a home today.”
