Ptsb Offer Extension

L

Leesider32

Registered User
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Hi all,

Probably going to have to look at getting an extension to our mortgage offer from ptsb as it expires in mid January and we have now been informed the house won't be finished until February or March. We did get an exception for around 3.9 times salary but circumstances have improved so this is now around 3.7 times salary.

Does anyone know if ptsb are normally accommodating in giving these types of extensions?
 
You should not be relying on just one lender.

They might have been good value when you applied for your loan (although I doubt it) but when you go to draw it down another lender may be better value.

And if one chooses not to extend, another might extend.

So don't put all your eggs in one basket.

Brendan
 
My understanding is that it is easier to get an exception earlier in the year, so you should be ok.

But you still should apply to at least one other lender.

Brendan
 
Mortgage rules are changing in January to 4 times income so you should be fine as no longer an exception.
 
Apologies, actually forgot it’s only for FTB (which is a little silly really!!)
Definitely as Brendan says - start an application with another bank just in case.
As you were due to drawdown in jan it was probably easier for them to grant an exception but might be a little trickier the further into the year it goes
 
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