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First Time Remortgaging admin

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I am about to remortgagefor the first time and am staying with my current lender C&G.

It's a 2 year fix at 4.45%.

I've just had the paperwork through which I have to sign and return. Can anybody tell me who can sign as a witness please? And can the same witness sign for both joint applicants? And why do I need a witness?

Also I have a £499 fee, do people tend to add to mortgage or pay upfront?

Thanks

Comments

  • AndrewSmith
    AndrewSmith Posts: 2,871 Forumite
    I would check the 4.45% rate as the C&G withdrew many of it's lower fixed rates recently. A quick call to your local branch should answer that one.

    A witness for signature is someone who has known you for 2 years or more. Can be a friend or neighbour, but cannot be a family member. If not go into your local C&G branch and sign the application in their presence. The reason a witness is needed is because the lender or a broker will not see you sign the form, thus it could be anybody signing it.

    Re the fee: totally up to you. Some people add it some will pay it, bearing in mind that it will be added to your mortgage and you pay interest on it.

    Hope this helps

    Andy
  • Gambler
    Gambler Posts: 3,284 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Thanks Andy, it is the 4.45%, the paperwork has taken 3 weeks to come through !
  • payless
    payless Posts: 6,957 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Yeah you apply/ reserve rate and then they post out paperwork- which is just an acceptance - Not sure why they bother with a "witnessed" form when its just a rate change
    Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.
  • Joe_Bloggs
    Joe_Bloggs Posts: 4,535 Forumite
    This may be a statement upon which the signee/s has to attest to in front of a witness. Mine said that I has understood the terms and conditions of the mortgage. My smarter neighbour new exactly what the form was for. You may have to persuade your own neighbour that you are not trying to have them buy your house.

    Read what you are signing before you sign it and you may understand the relevance of a witness in this situation.

    J_B.
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