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5yr Mortgage ended today - Remortgage timescale?

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leew
leew Posts: 730 Forumite
Part of the Furniture 500 Posts Name Dropper Combo Breaker
in Mortgages & endowments
Hi,

Our 5 yr fixed with Natwest ended today and we already have agreed the remortgage with Tesco some 2-3 months back question is what happens now?


Thanks.

Comments

  • kingstreet
    kingstreet Posts: 39,272 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    The solicitor you/the lender appointed completes the remortgage?
    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.
  • leew
    leew Posts: 730 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    kingstreet wrote: »
    The solicitor you/the lender appointed completes the remortgage?

    Yeah makes sense that, just wondering how long it takes and do I hear off them without contacting them first?

    I did tell them at the outset not to complete until after today to avoid the Early repayment fee.
  • silvercar
    silvercar Posts: 49,645 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    If there is any delay then you will be on your current lender's standard variable mortgage rate until you do complete the transfer.
    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • leew
    leew Posts: 730 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    silvercar wrote: »
    If there is any delay then you will be on your current lender's standard variable mortgage rate until you do complete the transfer.

    Thanks silvercar, what can delay it? It's been a while since we returned all paperwork that they requested off us, my old lender also have sent them the redemption statement so every at our end is complete.
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