Re Mortgage paperwork & timing

TTT123_2

Hello Experts!

I'm in process of re-mortgaging of my property (first time in my life), but due to lack of time & a lot of paperwork I’m afraid I’ll not be able to complete re-mortgage in time.

My mortgage advisor already asked me to sign 1 month notice letter & sent it to my current lender.

What could happen if I will not be able to complete the paperwork in time with my new lender? Can I call my current mortgage lender and ask them to hold on?

Please advice!

Thank you!

herbiesjp

TTT123 wrote: »

Hello Experts!

I'm in process of re-mortgaging of my property (first time in my life), but due to lack of time & a lot of paperwork I’m afraid I’ll not be able to complete re-mortgage in time.

My mortgage advisor already asked me to sign 1 month notice letter & sent it to my current lender.

What could happen if I will not be able to complete the paperwork in time with my new lender? Can I call my current mortgage lender and ask them to hold on?

Please advice!

Thank you!

Are you actually re-mortgaging?

Or are you selling and buying a propety?

TTT123_2

herbiesjp wrote: »

Are you actually re-mortgaging?

Or are you selling and buying a propety?

I'm re-mortgaging , not selling and buying a propety
Thanks!

herbiesjp

Right

I think I understand - you have to provide 1 months written notice to avoid paying any penalties when you leave.

Is that correct?

If so, you need to find out how long that is valid for.

Normally it is not a problem anyway, as you could send in another notice if that one expires.

Get your broker to find out

TTT123_2

yes, that's correct
thank you for help, herbiesjp!