Getting a mortgage offer for your first (or next) property is an exciting step. But the offer will come with a deadline and you’ll need to complete your purchase by that date.
It’s important to know how long your mortgage offer will last, as this will help you map out the rest of your home-buying process and keep on track.
Many lenders issue mortgage offers that are valid for between three and six months, although the exact period varies by lender and product. Here’s the lowdown and what you can do if time is running out on your offer.
This article is for general information only and isn't personal financial advice.
Your home may be repossessed if you do not keep up repayments on your mortgage.
What is a mortgage offer?
A mortgage offer is your lender's formal, written confirmation that it will lend you a specific amount for a specific property. It happens only after you’ve done a full application and the lender’s done affordability and credit checks and valued the property.
An offer is a legally binding commitment to lend you money for a specific property, with certain terms and conditions. It means more than a mortgage in principle (MIP), which is an early estimate of what you might borrow, or a decision in principle (DIP), which estimates what you might borrow for a certain property. There’s more about the different stages of the process in our mortgages explained guide.
The offer will set out important details such as:
- How much the lender will let you borrow
- The interest rate you’ll be paying
- Your monthly mortgage payment amount
- How long you have to repay it all (the term)
- Any fees you’ll need to pay
- The expiry date of the offer
How long does a mortgage offer last for?
Many mortgage offers are valid for between 3 and 6 months from the time they’re issued. But this does vary by lender, so when you get your offer letter, be sure to check the expiry date. Expiry means you must have completed your purchase and got your mortgage by that date.
What counts as the start date can vary between lenders, too, so it’s worth knowing when the clock started ticking. It could begin from the date you applied or it could be when the lender issued the offer. Some lenders give a fixed “complete by” date. You can ask your lender or your broker about what applies to your own offer.
The time limit is because the offer is based on factors that can change:
- Your income
- Your credit history
- The current interest rate
- Price trends in the housing market
So, for instance, your credit score might fluctuate, or you might switch jobs during the application process. Having a time limit makes sure the offer closely matches your current situation. The typical limit of between 3 to 6 months allows time for the legal paperwork to be finalised.
Here’s a summary of what to expect
| Scenario |
Typical validity |
What to keep in mind |
| Standard residential purchase |
Around 6 months |
Check if the clock started on application or offer issue date |
| Remortgage |
Around 3-6 months |
Should take less time as there’s no property purchase |
| New-build/off-plan |
Around 6 months but specialist lenders may extend to 9 or 12 months |
Construction delays are common with new homes |
Note: offer validity varies by lender
How soon will you get an offer and when does the clock start on the validity period?
Many lenders issue a mortgage offer within two to six weeks of receiving a full application, although timings vary depending on the lender and the complexity of the application.. At Habito by Monzo, in 2025, the average time from application to offer was 10 days. Over 92% of applications led to an offer within 90 days.
Based on internal management information covering mortgage applications submitted during 2025.
Once you get your offer, that’s when the clock typically starts ticking on its validity - but remember that some offer periods start on the date you applied.
See our full guide for more on how long it takes to get a mortgage.
Why might a mortgage offer expire or be withdrawn?
If you don’t complete your property purchase before the mortgage offer deadline, it will expire. Delays can be due to the legal process of buying a property (called conveyancing), or issues further up the buying chain, or new-build construction hold-ups.
An offer is based on the information you provided in your application. So if any of that changes after the offer and before you complete, check with your broker whether it’s something you need to tell the lender.
A lender is within its rights to withdraw an offer before it expires if your circumstances change. It may view a change as affecting your ability to pay the mortgage - new debt, a drop in your income or a change to your employment, for example. Other problems that might trigger this are issues found with the property or inaccurate information in the application. Lenders can withdraw an offer even after you’ve exchanged contracts.
You’re not obliged to proceed with an offer if you decide not to - but you’ll likely forfeit any fees or costs you’ve already paid towards it.
What happens if your mortgage offer expires before completion?
Here’s what to do if you think your offer will run out:
- Contact your lender or broker as soon as the offer is at risk.
- Ask whether you can extend it (see next section)
- If you’re reapplying, gather updated payslips, bank statements and ID.
- Be prepared for a new valuation and a possible change to the offer.
If your offer expires before you complete, you’ll usually need to reapply. That means a fresh application, updated documents and possibly a new valuation. The lender will reassess you against its current lending criteria and mortgage rates might have changed, all of which means the rate it offers you could change. With a new application, you’d typically pay again for fees and costs like a valuation.
We cover how to boost your chances of getting an offer in our guide to mortgage pre-approval.
Can you extend a mortgage offer?
It’s possible to do this but it’s not guaranteed. Some lenders may agree to extend a mortgage offer, depending on their lending policy and whether your circumstances have changed..
If you think you won’t complete in time, tell your broker or lender as soon as you can to see if it’s possible to extend the offer - see our guide on how to get a mortgage offer extension.
How to keep your purchase on track before the offer expires
Here’s a quick checklist to help you keep on track for completing in time:
✅ Note the exact expiry date the moment your offer arrives.
✅ Choose a responsive solicitor or conveyancer and reply to their requests quickly.
✅ Keep your broker in the loop on any delays so they can speak to the lender early.
✅ Avoid taking on new credit or changing jobs between offer and completion where you can.
Your broker can track the expiry date and chase the lender if things slow down.
Get help from a Habito by Monzo mortgage expert
It can be helpful to chat things through with an expert - and you can chat with one of our friendly mortgage experts for free. We can help you navigate the market and help you figure out your options.
Options available to you will depend on lender criteria, affordability and your personal circumstances.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Habito by Monzo is a mortgage broker, not a lender. We’re authorised and regulated by the Financial Conduct Authority (FRN 714187). This content is intended for general guidance and is not a substitute for personalised mortgage advice.
Frequently asked questions
How long does it take from mortgage offer to completion?
It usually takes from a few weeks to a few months, depending on the length of the buying chain, speed of conveyancing and whether you’re buying a new build. If you can keep the paperwork moving, that’ll help you complete on time.
Do remortgage offers last as long as purchase offers?
This depends on the lender - some don’t differentiate. In some cases a remortgage offer might be valid for 3 months rather than 6. The shorter timeframe is because there’s no purchase and no buying chain to slow things down.
How long is a mortgage offer valid for on a new build?
With new-build or off-plan homes, some lenders give a longer window, sometimes 9-12 months, because construction can run late. Confirm the exact period and the lender's extension policy when you apply.
Can a lender withdraw a mortgage offer before it expires?
Yes, a lender can withdraw or amend an offer before completion if your circumstances change - for example, if your income drops or you take on new debt or there’s a problem with the property. If you can keep your finances stable until completion, that will cut the chances of this happening.
How long is a mortgage approval good for once you're approved?
Once you have a formal offer, the approval is typically good for the 3-6 month validity window stated on your letter. After that you'd usually need to extend or reapply.
Information is correct at the time of writing and may change. Always check the latest terms and conditions before taking out a product.
