What if completion is not done in time?

tadaska

My mortgage is supposed to go from NatWest to Barclays. I started the ball rolling with L&C months ago and all was good, everything approved, only needed to complete by Enact. I even paid them almost £900 later because they said there was a shortfall. And it's been weeks now and they haven't completed yet. Completions get reset or postponed. But I thought they know what they are doing I don't so I wasn't worried. But a week ago when I tried to log in to my Barclays mortgage account and couldn't I called Barclays and they said the account was closed even though I still have a mortgage with them??? They had no idea what's going on and told me to call Enact. So I called and I was told the deadline for completion is 13th of Oct. and they will complete on the 9th. I call Enact again today (10th) and they tell me they don't have the funds from Barclays yet... I am now seriously worried but have no idea what I can do...

What will happen if they can't complete in time? Do I lose money, get a bad mark on my credit history or anything like that? I am having a very bad feeling about this. Any of you knows what is the worst I should be ready for?

nomoneytoday

Presumably the "old" mortgage will simply add daily interest until it's ported?

tadaska

What does it mean?

If the completion is not done in time does it mean that the deal is off and I'll just carry on with the "old" mortgage as nothing happened and I'll have to start a new remortgage process from the beginning? I think I read somewhere that if it's not done in time it expires and has to be started again