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Remortgage Application Delayed - extra interest?

Crazystar
Crazystar Posts: 45 Forumite
in Mortgages & endowments
Hello All,

My remortgage application is pending with Atom Bank via L&C Mortgages, and I have still not yet received the mortgage offer.My deadline to complete is Dec 31st (current mortgage expiring).

I understand my current lender will charge extra interest for the number of days i overshoot in Jan 2018 and can I ask my new Bank or L&C to reimburse any extra interest that I need to pay to my current Lender?

The delay is from L&C mortgages as they are very slow in communicating.

Please advise what my options are as my remortgage application is getting delayed.

Thanks
Sam

Comments

  • kingstreet
    kingstreet Posts: 39,315 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Highly unlikely.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • BoGoF
    BoGoF Posts: 7,098 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    And there is no guarantee you will get an offer
  • Crazystar
    Crazystar Posts: 45 Forumite
    Received the offer just now. Hope to complete it by the deadline and L&C have said they will look into the possibility of reimbursing the extra interest if it overshoots, at-least they dint reject my request....
  • kingstreet
    kingstreet Posts: 39,315 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    You would need to frame the issue as a complaint and request a goodwill gesture equal to the amount you would have avoided paying.

    Such a complaint for around £50 is likely to be successful.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Crazystar wrote: »
    My deadline to complete is Dec 31st (current mortgage expiring).

    Mortgages don't expire. They simply default onto the lenders SVR. Nor are you in a position to set deadlines for matters outside of your control. Are your solicitors aware of your deadline?
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