How long to allow for mortgage?

Question❔

Hi all

I am buying a property with a mortgage. The seller is mortgage free, and is pushing hard to close the deal as soon as possible.

Form F allows 30 days as standard to complete the transaction, after which the failing party owes 10% to the other.

This seems too short to me for a bank to process a mortgage, so I want to add a clause allowing for a grace period in case of delays by the bank.

How long is appropriate to allow for that grace period ?

I have had friends suggest 30 days grace is normal - is that correct ?

Posted Oct 6, 2025, 7:06 PM UTC

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