Remortgage Timeline. when is the latest I cancel the new deal?

Mr_Senor

I'm in a bit of a stressful situation. Hoping in the next few days to accept a new job abroad that would make me sell the flat I live in now but nothing is certain just yet.

My fixed rate mortgage is due to expire at the end of September, I have already contacted my mortgage advisor and locked a new 2 year fixed rate with Natwest. Bank did the valuation last week and everything went well, but I still haven't signed the mortgage deed or anything with the bank's solicitors.

I am trying to delay things down in case I take the new job and have to sell the property because it would be expensive to pay the bank £7K for ending the mortgage early.

What Should I do?:
1) Sign the mortgage deed and finish everything with the bank's solicitors ASAP, would I have a chance at the very last minute to cancel the new deal if I do this now?

Or
2) Should wait a few more days to see if the new job offer materializes?

I'm really not very familiar with Solicitor timelines with Remortgages

K_S

@mr_senor Unless I'm missing something obvious, irrespective of when you sign the deed, the solicitor will not set an on/after completion date without agreeing it with you first. In your place I would consider dropping them an email asking them not to set a completion date until you confirm. 

Once you know about your job/move, you can decide whether to set a completion date or cancel the remortgage.

The downside is of course that you may spend more time on the current lender's SVR after 30 September but that's just the price to pay for the flexibility.

Mr_Senor said:

I'm in a bit of a stressful situation. Hoping in the next few days to accept a new job abroad that would make me sell the flat I live in now but nothing is certain just yet.

My fixed rate mortgage is due to expire at the end of September, I have already contacted my mortgage advisor and locked a new 2 year fixed rate with Natwest. Bank did the valuation last week and everything went well, but I still haven't signed the mortgage deed or anything with the bank's solicitors.

I am trying to delay things down in case I take the new job and have to sell the property because it would be expensive to pay the bank £7K for ending the mortgage early.

What Should I do?:
1) Sign the mortgage deed and finish everything with the bank's solicitors ASAP, would I have a chance at the very last minute to cancel the new deal if I do this now?

Or
2) Should wait a few more days to see if the new job offer materializes?

I'm really not very familiar with Solicitor timelines with Remortgages

Mr_Senor

Thanks, I was not aware of the flexibility of setting a completion date, Now that I signed everything online in the solicitors website I can see that.  Cheers