How long does it take to remortgage, and what are the 'costs'?

bugbyte_2

Hi, a couple of questions.

Next year I will need to remortgage our house. I will be swapping providers. Standard house, 80% owned, clean credit history, so can't see anything weird and wonderful to cause problems.

How many weeks do you reckon before my current deal expires should I start looking and making arrangements?

Also, the mortgage I am looking at, Skipton 5 yr @ 3.08 fixed has an application fee of £195, free valuation and free legal fees and a completion fee of £800. Is there any other fees I need to factor in? (there are no early redemption fees from existing provider).

Also also, what is a completion fee?

Thanks in advance!

ACG

I submitted an application to skipton for one of my clients on the 27th November, it was offered in about 5 working days and the solicitors are giving a completion date of the 4th Jan. So its about a month or so (taking out xmas), just make sure they have everything they need in one go and it should go pretty smoothly.

Ive always had good service from Skipton and Conveyancing direct (their solicitor people).

kingstreet

I'd allow six weeks, just to be on the safe side, so start looking a couple of months before expiry.

A completion fee is an arrangement fee, charged by the lender at the point the mortgage completes (starts).