The extension aims to provide a single, simplified deadline, reducing multiple timeframes before and after the issuance of a DIP and pre-offer, resulting in streamline communication between lender, broker and their landlord or investor clients.

HTB says it has made the DIP extension to reduce administrative burden and give brokers more time to support their clients.

A DIP must be accepted within 30 days by instructing a valuation.

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Chris Daly, MD of specialist mortgages at HTB (pictured above), commented: “Providing an extended DIP — now aligned with our offer period — is our way of simplifying the number of deadlines brokers need to track and progress a case.

“It’s a small change with big impact, reducing the administrative burden of a deal, and giving back valuable time which in turn allows brokers to focus more on their clients and the options available to them.”