Approval In Principle due to expire this week!

Looks like I might be in a sticky situation....

Have submitted everything I can but it seems that my solicitor is on hols and the AIP expires on Sunday (24/07).

Was hoping to get Final Letter sorted in time but now I'm in limbo.

Any advice or do I have to go through the application process again?

Are extensions commonplace?

Ask them. I’m aware in the past of banks extending approval. Shouldn’t be an issue though they might seek updated financial information from you.

Go down through every single requirement noted on the AIP letter. Make sure you've sent every single one of them to the lender before the weekend. That should be enough.

Did you deal directly with the lender or through a broker? Talk to whoever arranged your AIP letter for you. Solicitor being on holidays shouldn't have a bearing on your lender issuing your formal loan offer.

LDFerguson said:

Go down through every single requirement noted on the AIP letter. Make sure you've sent every single one of them to the lender before the weekend. That should be enough.

Did you deal directly with the lender or through a broker? Talk to whoever arranged your AIP letter for you. Solicitor being on holidays shouldn't have a bearing on your lender issuing your formal loan offer.

Click to expand...

Dealing directly with bank mortgage consultant. Have given him absolutely everything he's asked and few other documents that he didn't request. Hopefully it'll work out ok.

To the previous poster, I'll 100% be requesting an extension.

Fingers and toes crossed....

gerprem08 said:

Looks like I might be in a sticky situation....

Have submitted everything I can but it seems that my solicitor is on hols and the AIP expires on Sunday (24/07).

Was hoping to get Final Letter sorted in time but now I'm in limbo.

Any advice or do I have to go through the application process again?

Are extensions commonplace?

Click to expand...

Yes - I extended 3 times and then got them to increase my borrowing amount as I had a nice pay rise and decided to buy something bigger.
Just get onto the bank and explain. You'll need to get the valuation done again (in reality most valuers will just reissue the original for 1/2 the fee, usually 75 euro) and then the bank will reissue the AIP. They don't actually go to full approval until the valuation is done and you agreed all the details anyway.

Johnno75 said:

Ask them. I’m aware in the past of banks extending approval. Shouldn’t be an issue though they might seek updated financial information from you.

Click to expand...

Correct, you'll need an up to date pay slip and possibly a newer letter from your job. Latest statements if you bank elsewhere.

Thanks everyone.

Managed to get sorted.

Letter in post.