How long does a mortgage offer last? Dates, valuations and what we check

Mortgage offer and valuation at a glance

Will my mortgage offer last until completion?

Put the end date from your offer letter into the checker at the top of this page, or the offer date and how long your lender gives. The checker sets that against our typical time from instruction to completion. It shows whether the dates fit, are tight, or may not fit.

With fast-track, if we miss that timescale, you do not pay the fast-track fee, unless the delay is outside our control, for example caused by the other side, the lender or the chain. These are typical times, not a promise of a date. The chain, the searches and your lender all affect it.

How long do the big lenders’ offers last?

Each lender sets its own offer period, and it can differ for a new build. Here is what five lenders publish on their own public pages, checked on 29 October 2026. Lenders change these rules, so your offer letter always wins. We read the end date and conditions on the offer itself, not on this table.

Sources: NatWest, TSB Intermediary, Santander for Intermediaries, Nationwide Intermediary, HSBC UK for Intermediaries.

If your end date may fall before completion, your lender or mortgage broker is the one to ask about more time. We are solicitors, not mortgage brokers: we don’t advise on which mortgage, lender or rate to choose.

When does the offer clock start, and what can end it early?

Read two things on your offer letter: the date it was issued and the date it ends. TSB, for example, counts its 180 days from the first offer date, not from when you applied. Santander’s new-build offer ends nine months after it is issued.

An offer can also end before that date. At Santander, a new-build offer ends at the earliest of three dates: the offer end date, the date the mortgage product must complete by, and the date the valuation expires. So a product deadline or an old valuation can cut the time short.

Changes count too. TSB’s criteria say an extension needs no changes to the application, including the product. Santander runs a new credit search and checks affordability again before it extends a new-build offer. Tell your broker and us at once if something changes.

What do we do with your offer once your lender sends it?

Usually, we also act for your lender. That is why a cash purchase leaves out two of our fee lines: there is no lender to act for.

• We check your mortgage offer and its conditions, and report to your lender.
• On a new build, we check the offer’s expiry date against the developer’s timetable at the start.
• We tell you at once if something will hold up the exchange, such as a late mortgage offer.
• We explain what the title, searches, contract and mortgage offer mean for you.

Your money: send your deposit at least 1 working day before exchange, and the rest at least 1 working day before completion.

Our report to the lender is often called the certificate of title. Nationwide’s new-build grace period and HSBC’s acceptance both turn on it reaching the lender. The steps around it are on our buying a house page.

What happens if the valuation comes in below the price?

Your lender values the home before it approves your mortgage. If the valuer puts it below the price you agreed, it is called a down valuation. Your lender then decides what it will lend.

The agreed price does not change by itself. GOV.UK says an offer “is not legally binding in England and Wales until you exchange contracts”, so the usual choices are:

• ask the seller to lower the price, using the valuation;
• pay the gap from your own savings, which changes your deposit;
• ask your broker about another lender, which means a new application and a new offer date;
• pull out before exchange.

Two cases buyers often describe:

• A leasehold flat: the valuer raises the lease length, and the lender wants it extended first. Our short lease guide covers the lease side.
• A new build on an early phase: there are few sales nearby to compare, so the figure can come in lower. For deposit changes on a new build, see new-build conveyancing.

If your deposit changes, tell us.

Is the lender’s valuation a survey?

No. The lender’s valuation is for the lender. It tells them what the home is worth as security for the loan. A survey is for you, and checks the condition of the home. GOV.UK lists them as separate steps: the lender’s valuation, and a homebuyer survey you can choose to get.

RICS sets out four survey reports under its Home Survey Standard: Level 1, Level 2 (survey only), Level 2 (survey and valuation) and Level 3. Level 3 is the most detailed. A surveyor can tell you which suits the home.

We do not do surveys, and we don’t recommend a particular firm.

What if the offer runs out after we exchange?

Exchange is the point of no return. GOV.UK says the agreement to buy is “legally binding once this happens”, and that usually neither side can pull out without paying compensation. Your mortgage offer, though, has its own end date set by the lender.

So the completion date in the contract needs to fall before the offer ends. If it may not, raise it with your lender or broker before you exchange, not after. On a new build, the contract’s long-stop date matters too: see new-build conveyancing.

Where do mortgage offers come unstuck?

1. The offer ends while the chain is still not ready. Use the checker with your end date; if it says tight, speak to your lender or broker early. If you are selling too, ask your lender about porting your mortgage.
2. The gift’s source changes after the offer (from a pension to a loan, or a new giver). The lender approved a gift on certain facts. Our gifted deposit guide explains what the giver sends.
3. The lender will not take a gift from outside the UK, and the buyer finds out after the offer. Tell your broker about any overseas money before you apply. Our source of funds page explains where your money comes from and what we ask to see.
4. The valuer raises the lease length on a flat. See the down valuation answer above.
5. A new-build offer that is shorter than the build. Some new-build offers can last up to nine months; we check the expiry date against the developer’s timetable at the start.

Does anything change if the home is in Wales?

The offer itself works the same way. Its length and conditions come from your lender, and GOV.UK’s home-buying guide covers England and Wales together.

What changes is the tax you pay at completion. In Wales it is Land Transaction Tax, not Stamp Duty. The return and payment go to the Welsh Revenue Authority within 30 days of the day after completion. In England, the Stamp Duty return is due within 14 days of completion. Work out the Welsh figure with our Land Transaction Tax calculator.

43 of the 670 purchase quote requests we received were for a home in Wales (website quote requests, 2 Sep–29 Oct 2026).

Which of our fees come with a mortgage?

Buying a residential property: our fee range is in the box below. It includes our legal fee plus Preparation of SDLT forms, Application for Registration, File Opening Fee (Non-refundable), Telegraphic Transfer Fee (Per Transfer), Mortgage Handling/Admin Fee and Lender Portal Management Fee.

The two mortgage lines, the Mortgage Handling/Admin Fee and the Lender Portal Management Fee, are already inside that range. A cash purchase leaves them out. Only if they apply: Dealing with Leasehold and New Build Property. Fast-track is paid on completion and is not charged if we miss the timescale, unless the delay is outside our control. Each of these is on our fees page.

Stamp Duty Land Tax (England) or Land Transaction Tax (Wales) and the HM Land Registry fee are government charges: they sit in their own box and are never added to our fees. We give you a written, itemised quote before you instruct us. Try the conveyancing cost calculator for your own figures.

What happens next

• Buying a house: the whole process with us
• Source of funds: what to send us
• Conveyancing cost calculator
• More buyer situations, explained