Confused about our mortgage offer

[Jesssicaa]

My mortgage offer expires on the 12th of November. I got an email from my solicitor stating that they need 10 working days before completion to notify the lender if we cannot complete, so they said they have to work backwards from that. The latest they can request the mortgage money is the 19th of October and completion would be October 27th at the latest. I contacted our mortgage broker to see if I can extend the mortgage offer. He checked for me and said that the lender is willing to extend 10 working days but he cannot request it yet. If my mortgage offer ends the 12th of November why do we have to exchange the 27th, it totally confuses me, am I missing something?

Many thanks

To take account of weekends ?

Are they assuming 2 weeks between exchange and completIon ?

You seem to have mixed up your terminology in your post.

You have to give 10 working days' notice to the mortgage company if you can't complete by the time the offer expires on 12 Nov (a Sunday). So if you haven't completed by 27 Oct, that's when you have to tell your mortgage company that it hasn't happened, as it's the last working day before the offer expires to meet the notification deadline re failure to complete.

Thank you for the reply. If we cannot complete by the 27th, can we still work towards the completion date before the offer expires or do we just stop there?

Without seeing the wording of the offer, I couldn't definitively say. However, if the offer expires on 12 Nov, it doesn't make any sense to say those last two weeks are dead time which can't be used to complete.

Is your solicitor worried you're not going to make the deadline? If so, do you know what the hold up is?

Our buyer has a buy to let mortgage and because of this we have had to do a deed of variation. This has been started and has gone back to the buyer for approval, that was Monday and we have not heard from them. I think after the approval we will sign the deed and then good to go. Does the buyer need to get approval from their lender? So not sure how long that takes

I have no idea, but potentially. However, I'd think getting the Deed of Variation was for the mortgage co's purpose, so that step may have been done.