We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Remortgage Completion Question

Options
Ok, so offer in from Natwest, and I know this is a stupid question but my Fixed Term ends on 30th November.  The ERC is £8k so I want to avoid this - do I ask the solicitor to complete the new mortgage on the 30th November or the 1st December?
I've done this process a few times now, but I cant remember and I don't want the EPC charge so I'm guessing its the 1st - is this right? 
TIA
Looking to remortgage December 2022 onto a better rate!

Comments

  • K_S
    K_S Posts: 6,878 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    edited 24 August 2022 at 10:38AM
    Ok, so offer in from Natwest, and I know this is a stupid question but my Fixed Term ends on 30th November.  The ERC is £8k so I want to avoid this - do I ask the solicitor to complete the new mortgage on the 30th November or the 1st December?
    I've done this process a few times now, but I cant remember and I don't want the EPC charge so I'm guessing its the 1st - is this right? 
    TIA
    @doglover34 You're right, it's the 1st. With all the lenders I've seen, an ERC is due if you repay 'on or before' the fix end date.

    If the solicitor were to do what they're supposed to, even if you asked for the 30th, your solicitor should point out that that would incur an ERC, but can't take that for granted.

    I am a Mortgage Adviser - 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.

  • ohhh super thanks, sorry I had a brain fart LOL
    Looking to remortgage December 2022 onto a better rate!
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.