Had remortgage offer but confused on timing

purpleparrotuk

My current fixed rate ends on 31st December. Because of rising interest rates I have just had a mortgage offer given to me at current rates. This is valid for 180 days and expires on 2nd January.
Have I messed up with the timing on this since I have to complete on the 31st December and it doesn’t leave much time before the offer ends. It will also be public holidays on 1st January. 

Will what  I want to do work? The solicitors the lender have appointed will contact me in the next few days so I could check with them i guess 

PawelK

Hi. I'm in a similar boat as you. My ends end of October and I already secured decent deal that expires in the first few days if November. From what I'm understanding, solicitors will agree with you a completion day when you fill in their questionnaire which is what I went through. Not sure of this will work in your case as 2nd January is a bank holiday. Hope it goes well as it does make sense to secure the deal early in the month (6 months before your current deal ends) before BoE announces yet another increase of their base rate.

purpleparrotuk

PawelK said:

Hi. I'm in a similar boat as you. My ends end of October and I already secured decent deal that expires in the first few days if November. From what I'm understanding, solicitors will agree with you a completion day when you fill in their questionnaire which is what I went through. Not sure of this will work in your case as 2nd January is a bank holiday. Hope it goes well as it does make sense to secure the deal early in the month (6 months before your current deal ends) before BoE announces yet another increase of their base rate.

Thanks for the reply. I’ve just contacted Halifax and I can move across without incurring any early repayment charges from 1st October onwards so that’s plenty of time :-) 

PawelK

purpleparrotuk said:

PawelK said:

Hi. I'm in a similar boat as you. My ends end of October and I already secured decent deal that expires in the first few days if November. From what I'm understanding, solicitors will agree with you a completion day when you fill in their questionnaire which is what I went through. Not sure of this will work in your case as 2nd January is a bank holiday. Hope it goes well as it does make sense to secure the deal early in the month (6 months before your current deal ends) before BoE announces yet another increase of their base rate.

Thanks for the reply. I’ve just contacted Halifax and I can move across without incurring any early repayment charges from 1st October onwards so that’s plenty of time :-) 

Excellent news. Very happy for you.

kingstreet

purpleparrotuk said:

PawelK said:

Hi. I'm in a similar boat as you. My ends end of October and I already secured decent deal that expires in the first few days if November. From what I'm understanding, solicitors will agree with you a completion day when you fill in their questionnaire which is what I went through. Not sure of this will work in your case as 2nd January is a bank holiday. Hope it goes well as it does make sense to secure the deal early in the month (6 months before your current deal ends) before BoE announces yet another increase of their base rate.

Thanks for the reply. I’ve just contacted Halifax and I can move across without incurring any early repayment charges from 1st October onwards so that’s plenty of time :-) 

Are you sure? That normally applies to product transfers and ports; not remortgages away.

purpleparrotuk

kingstreet said:

purpleparrotuk said:

PawelK said:

Hi. I'm in a similar boat as you. My ends end of October and I already secured decent deal that expires in the first few days if November. From what I'm understanding, solicitors will agree with you a completion day when you fill in their questionnaire which is what I went through. Not sure of this will work in your case as 2nd January is a bank holiday. Hope it goes well as it does make sense to secure the deal early in the month (6 months before your current deal ends) before BoE announces yet another increase of their base rate.

Thanks for the reply. I’ve just contacted Halifax and I can move across without incurring any early repayment charges from 1st October onwards so that’s plenty of time :-) 

Are you sure? That normally applies to product transfers and ports; not remortgages away.

Thats what Halifax told me, they said it was because I could do it 3 months prior but no longer. I told them I was moving across to Nationwide. Should I check again?

I even made the question clear and concise at the end of the phone call and she confirmed it. You have me worried sick now.

kingstreet

purpleparrotuk said:

kingstreet said:

purpleparrotuk said:

PawelK said:

Hi. I'm in a similar boat as you. My ends end of October and I already secured decent deal that expires in the first few days if November. From what I'm understanding, solicitors will agree with you a completion day when you fill in their questionnaire which is what I went through. Not sure of this will work in your case as 2nd January is a bank holiday. Hope it goes well as it does make sense to secure the deal early in the month (6 months before your current deal ends) before BoE announces yet another increase of their base rate.

Thanks for the reply. I’ve just contacted Halifax and I can move across without incurring any early repayment charges from 1st October onwards so that’s plenty of time :-) 

Are you sure? That normally applies to product transfers and ports; not remortgages away.

Thats what Halifax told me, they said it was because I could do it 3 months prior but no longer. I told them I was moving across to Nationwide. Should I check again?

I even made the question clear and concise at the end of the phone call and she confirmed it. You have me worried sick now.

As I've just posted in another thread;-

"If a Product Transfer application is made within the last 3 months of the existing product term, the ERCs will be waived. If the loan is re-mortgaged to another lender, the ERCs will be applicable up until the existing product end date."

purpleparrotuk

kingstreet said:

purpleparrotuk said:

kingstreet said:

purpleparrotuk said:

PawelK said:

Hi. I'm in a similar boat as you. My ends end of October and I already secured decent deal that expires in the first few days if November. From what I'm understanding, solicitors will agree with you a completion day when you fill in their questionnaire which is what I went through. Not sure of this will work in your case as 2nd January is a bank holiday. Hope it goes well as it does make sense to secure the deal early in the month (6 months before your current deal ends) before BoE announces yet another increase of their base rate.

Thanks for the reply. I’ve just contacted Halifax and I can move across without incurring any early repayment charges from 1st October onwards so that’s plenty of time :-) 

Are you sure? That normally applies to product transfers and ports; not remortgages away.

Thats what Halifax told me, they said it was because I could do it 3 months prior but no longer. I told them I was moving across to Nationwide. Should I check again?

I even made the question clear and concise at the end of the phone call and she confirmed it. You have me worried sick now.

As I've just posted in another thread;-

"If a Product Transfer application is made within the last 3 months of the existing product term, the ERCs will be waived. If the loan is re-mortgaged to another lender, the ERCs will be applicable up until the existing product end date."

Thanks for letting me know about this. If it wasn’t for your post I would have been in trouble. Hopefully I can get an extension. The perils of trying to do a remortgage yourself I guess.