Santander remortgage and transfer of funds not until the 17 August

Edkhan

Hello forum members my first post here. So I am hoping to remortgage with Santander and they have all the documents they need plus the mortgage redemption figure. However, they have set the completion date for the 17 August. I think this is to allow for the five working days that they take to. Transfer funds and probably to be on the safe side to allow for the weekends.

How likely are the funds to come earlier and can j ask for an earlier completion date if they do?

Thanks in advance

kingstreet

The solicitor handling the remortgage determines when completion takes place, not the lender.

The solicitor obtains a redemption statement from the current lender based on a particular date and submits the certificate of title to the new lender in time for the funds to be drawn-down to meet the redemption date.

You are best leaving the experienced practitioners in this process to it unless you are paying the solicitor yourself and not using the lender's "free legals" offering. Then you can instruct them as you see fit.