Timing advice for Lloyd's mortgage application

I have an AIP with Lloyd's but my current mortgage doesn't finish until 03/04/2022. In order to avoid the ERC, when should I complete the full application with Lloyd's?

I did ring them and after 1.5 hours on hold the customer representative advised an offer would be valid for 6 months but wasn't sure if that was calendar months or full months. I think to avoid the ERC, I would need to wait until start of November to submit the full application for completion in early April? Grateful for any advice on this. 

Comments

  • K_S
    K_S Posts: 6,872 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    @hallion Lloyds products come with a fixed 'complete-by' date which in all honesty their mortgage team should be able to tell you as an exact date.

    This thread might help
    https://forums.moneysavingexpert.com/discussion/6390576/advise-lloyds-mortgage-offer-not-for-full-6-months
    Hallion said:
    I have an AIP with Lloyd's but my current mortgage doesn't finish until 03/04/2022. In order to avoid the ERC, when should I complete the full application with Lloyd's?

    I did ring them and after 1.5 hours on hold the customer representative advised an offer would be valid for 6 months but wasn't sure if that was calendar months or full months. I think to avoid the ERC, I would need to wait until start of November to submit the full application for completion in early April? Grateful for any advice on this. 

    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.

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