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Remortgage Timescale
BaldySmurf
Posts: 38 Forumite
Morning All,
Can anyone advise how long the "average" remortgage takes please? We're with the Halifax at the moment and have found we can stay with them at 5.99% fixed for 2 years with a £999 arrangement, which would be a nice quick easy switchover of products.
However, we've also been informed that we can get 5.85% fixed for 2 years with the RBS and a £699 arrangement fee, with free legals and valuation.
The current product with the Halifax runs out on the 30th September 2007, at which point we'd move on to the Halifax's SVR at 7.75% unless the new lender has set up.
Considering the 30th September is a little over seven weeks away, would this be enough time for everything to go through and not face the risk of falling over to 7.75% for any time (or at least very minimum)?
Thanks!
Neil
Can anyone advise how long the "average" remortgage takes please? We're with the Halifax at the moment and have found we can stay with them at 5.99% fixed for 2 years with a £999 arrangement, which would be a nice quick easy switchover of products.
However, we've also been informed that we can get 5.85% fixed for 2 years with the RBS and a £699 arrangement fee, with free legals and valuation.
The current product with the Halifax runs out on the 30th September 2007, at which point we'd move on to the Halifax's SVR at 7.75% unless the new lender has set up.
Considering the 30th September is a little over seven weeks away, would this be enough time for everything to go through and not face the risk of falling over to 7.75% for any time (or at least very minimum)?
Thanks!
Neil
0
Comments
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It should take between 4-6 weeks for a remortgage to take place.
If you decide to proceed, keep on top of things at each stage of the process, eg. application, valuation, offer, completion.
All the best
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0
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