Delayed completion-question on the process now please

Househelpplease

Hi all,

Thanks to those who gave me advice on my remortgage with HSBC. We’ve now had our offer through at the rate we agreed a few weeks ago so are really grateful to the brokers for pushing it through when they did! 

So my question now is because we want to delay completion until next Feb, what happens now? I’ve been told to deal with the solicitor now and not the broker or HSBC is that right? How will they know we’re accepting the offer? The solicitors are hard to get hold of and not very clear at all on their website! 

Also, what happens when we near completion? Will the mortgage company need to do checks again and if so what will these consist of? Just checking we’re basically home and dry now!

Thank you! 

K_S

@househelpplease I'm assuming it's free legals? They should be in touch soon to start the sign-up process. What usually happens is that they take a few weeks to do the conveyancing and then set a completion date as per your preference within the expiry date. 

Househelpplease said:

Hi all,

Thanks to those who gave me advice on my remortgage with HSBC. We’ve now had our offer through at the rate we agreed a few weeks ago so are really grateful to the brokers for pushing it through when they did! 

So my question now is because we want to delay completion until next Feb, what happens now? I’ve been told to deal with the solicitor now and not the broker or HSBC is that right? How will they know we’re accepting the offer? The solicitors are hard to get hold of and not very clear at all on their website! 

Also, what happens when we near completion? Will the mortgage company need to do checks again and if so what will these consist of? Just checking we’re basically home and dry now!

Thank you! 

Househelpplease

Thanks very much! Yes, free legals. They’ve been in touch but their online portal is so unclear and user UNfriendly. I’ve filled in all the info and have tried to ask things like do I need to do anything to let HSBC know I accept the offer (the HSBC docs mention 7 days?) but their response has been clear as mud to be honest! 

So from your experience do I literally fill in the info they send to me and then it will be put on hold in essence until January?  

Will they do more checks (statements or anything hing) before completion or is that side of things done?

Finally (I think!), there’s a form my partner needs to sign to consent to the mortgage. Do you know anything about that at all? I said when I bought the house I wanted to protect it as an asset for my children in case of a split so him signing this won’t change that will it? We don’t intend to split by the way but still would like that security for them. He’s not on the deeds or the mortgage (or this remortgage).

Thanks so much! I appreciate your time very much indeed! 

Saint84

Hi, I am in exact same position as you. The online portal I have filled in and stating do not complete until next year and they don’t respond.

I have called them up and they said they have put a note on my account to not complete until next year! 

housebuyer143

Saint84 said:

Hi, I am in exact same position as you. The online portal I have filled in and stating do not complete until next year and they don’t respond.

I have called them up and they said they have put a note on my account to not complete until next year! 

Doesn't fill me with hope.... I am hoping to hold onto an offer and potentially not redeem it so I am a little worried they might do just that 🙄

Saint84

I am looking to delay until expiry for a few reasons:

1) lower erc
2) stay on current lower mortgage rate

It’s unlikely that rates will go lower in 6 months time