If you don`t settle into the banning period, you risk losing the interest rate and the number of points you`ve blocked. This can happen if there are delays in processing, whether caused by you, others involved in the settlement process or the lender. For example, your credit licence may be delayed if the lender has to wait for documents from you or others, such as employers, appraisers, termite inspectors, contractors and people who sell the house. From time to time, lenders themselves cause processing delays, especially when demand for credit is high. This sometimes happens when interest rates fall suddenly. Will the lock-in be written? If the blocking is not done in writing, you do not have a record of the lenders` agreement with you in case of a dispute. If your lock-in expires and you want to get another lock-in when it comes into effect, does the lender charge extra for the second lock-in? When your lock-in expires, most lenders offer the loan based on the current interest rate and points. If market conditions have led to higher interest rates, most lenders will charge you more for your loan. One of the reasons some lenders may not be able to offer the lock-in after the deadline expires is that they can no longer sell the loan to investors. (When lenders block loans to borrowers, they often have an agreement with investors to buy those loans based on locking conditions. This contract may expire at about the same time as the freeze expires and the lender cannot afford to offer the same terms if market interest rates have increased.) Lenders who intend to maintain the credits they grant may benefit from greater flexibility in cases where the resolution is not completed before the locking has expired. When will the lender have you lock in the interest rate and points? If you apply? When will the loan be approved? But what happens if your lock-in goes out? If you feel that the default is due to delays caused by the lender or anyone else involved in the loan process, you should first try to get a satisfactory agreement for both parties with the lender.