The period of time between receiving a mortgage offer and exchanging on your home can be risky territory. Receiving an offer doesn’t quite mean you’re over the finish line. Completion can still take months – enough time for personal or financial changes to unintentionally void your mortgage.
Figures from Quick Move Now show that 26% of property sales fell through in 2025. There are a few reasons for this, and sadly not all can be avoided – life happens. But let’s look at the common mistakes, how to avoid them, and how a mortgage broker can help you protect your mortgage offer.
What is the gap?
This is the period between receiving a mortgage offer and officially completing on the property. It’s where many buyers unknowingly put their mortgage at risk. If you were to have a change in your financial circumstances, a job switch, a new debt, or a large purchase, it could affect your lender’s assessment – even though you already received the offer.
Here are a few examples of things that could jeopardise you mortgage offer:
Changing jobs without notifying your lender.
Buying a car on finance.
Taking out new credit cards.
Going on an expensive holiday.
Mistakes to avoid during this period
Remember, you’re not quite over the line once you’ve got your mortgage offer. Nothing is set in stone until completion, and you still need to keep an eye on your finances like you did in the run up to submitting your application.
To do this, it’s best to avoid making these common mistakes:
Buying on 0% finance deals: This includes things like sofas, expensive gadgets, or, as mentioned before, a car. Tempting as they may be, they can appear as new debt to your lender, which increases your monthly commitments and impacts your affordability, possibly reducing how much a lender is willing to lend you.
Switching jobs: We know this can’t always be avoided, especially if you’re made redundant. But it is best to postpone a job change for a little while, if you can. Changing roles or reducing income can affect your affordability, but so could a higher salary – especially if you’re on probation or your contract type changes. It’s all instability in the eyes of the lender.
Large payments or overdrawing: Sudden large withdrawals of cash or significant transfers might raise concerns with lenders and you could be asked for updated bank statements. If your overall outgoings have changed, so could your affordability.
Other financial commitments: Check with your broker before starting a new subscription or taking out a new loan – this includes things like Klarna and PayPal Credit because it all shows on your credit file.
Why do lenders care?
Remember that your mortgage offer is based on a lender’s assessment of your finances at the time of your application. If your circumstances change, the lender may reassess your risk. This doesn’t mean they will withdraw the offer, but it’s enough for you to not want to run the risk.
It’s also worth noting that lenders often conduct a second, ‘soft’ credit check just before completion. So just because you passed with flying colours at the start of the mortgage application process, doesn’t mean you’ve now got free reign to make big spends or take out a new loan!
How can a mortgage broker help you during the gap
Partnering with a mortgage broker is about more than getting access to better mortgage deals. You also benefit from expert guidance which can make all the difference in moments like these. They’ll help you by:
Keeping you informed of general Dos and Don’ts before, during, and after a mortgage application.
Helping you plan around holidays or car purchases to ensure they don’t affect your chances of approval.
Informing lenders of any changes where necessary to avoid delays or voided offers.
Reviewing plans and changes with you to make sure your mortgage offer remains valid.
With an expert on your side, it becomes easier to avoid falling into traps that put your mortgage offer at risk.
Top tips for navigating the gap
Now that we’ve told you what not to do, here are a few things you can do.
Avoid taking on new credit or finance deals.
Consult your mortgage broker before switching job or reducing your income.
Keep a close eye on your bank statements and spending.
Communicate any major life changes to your mortgage broker as soon as possible.
And if you’re ever unsure, just ask your mortgage broker. They’re there to help you.
The Mortgage Hut can help
For help keeping your mortgage safe and your move on track, speak to our friendly mortgage advisors at The Mortgage Hut. Our experts have a track record in successful mortgages, helping our clients secure the homes they love.
We can help you find a mortgage that works for you, and make sure you hold on to it. Contact us to get started.
FAQs
Can my mortgage offer be pulled before completion?
Yes. If your financial circumstances change after you receive an offer from a mortgage lender, they can reassess it or even withdraw it.
Can I change jobs after getting a mortgage offer?
It’s generally advisable not to, as it could impact your offer. If you’re considering a job change, speak to your mortgage broker first.
Should I avoid Buy Now, Pay Later when getting a mortgage?
Yes. Too many of these loans (that includes things like Klarna accounts) appearing on your bank statements or your credit file can affect your chances of getting a mortgage. Lenders usually run credit checks before giving you an offer, and they might do it again before completion – so it’s best to hold off until you’re over the line.
