We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
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 Issue - Help!!
Options
97Parsons
Posts: 2 Newbie
Hi,
I wanted some advice on my current situation on my remortgage. My current fixed rate deal is set to mature at the end of this month, which I have a pending offer but due to the Land Registry not being complete I cannot proceed further with the conveyancer to get the remortgage over the line.
The Land Registry has not been completed even though I purchased my property back in April 2022. After chasing the solicitors I used to initially purchase the property since the start of February, there has been little to no progression, due to Land Registry requesting further information in which was raised since only in March this year, the solicitors had only acknowledged this request two weeks ago!! This is involving the solicitors needing to get this information from the sellers' solicitors as they don't have the answers for Land Registry.
As a result of this, I will most likely be falling into the SVR with my current lender which is a horrific 9.45%!! (up from my current fixed rate at 3.73%), which you can imagine if a huge increase in my monthly outgoings and personally this won't be sustainable for me.
Since this all at no fault of my own, is there anything I can do? I can't see why I have to suffer financially when all parties mentioned above are the ones that haven't done their job correctly.
Appreciate everyone's time reading this and any advice would be greatly appreciated! Happy to add further information on this if required!
I wanted some advice on my current situation on my remortgage. My current fixed rate deal is set to mature at the end of this month, which I have a pending offer but due to the Land Registry not being complete I cannot proceed further with the conveyancer to get the remortgage over the line.
The Land Registry has not been completed even though I purchased my property back in April 2022. After chasing the solicitors I used to initially purchase the property since the start of February, there has been little to no progression, due to Land Registry requesting further information in which was raised since only in March this year, the solicitors had only acknowledged this request two weeks ago!! This is involving the solicitors needing to get this information from the sellers' solicitors as they don't have the answers for Land Registry.
As a result of this, I will most likely be falling into the SVR with my current lender which is a horrific 9.45%!! (up from my current fixed rate at 3.73%), which you can imagine if a huge increase in my monthly outgoings and personally this won't be sustainable for me.
Since this all at no fault of my own, is there anything I can do? I can't see why I have to suffer financially when all parties mentioned above are the ones that haven't done their job correctly.
Appreciate everyone's time reading this and any advice would be greatly appreciated! Happy to add further information on this if required!
0
Comments
-
Sounds like a right nightmare, you would be able to get a better deal though as soon as the paperwork goes through?0
-
It has been a nightmare! But yes, the new deal would be a 5yr fixed at 4.99% once everything is sorted.ReadySteadyPop said:Sounds like a right nightmare, you would be able to get a better deal though as soon as the paperwork goes through?0 -
Rather than remortgaging, maybe you can book a new rate with your existing lender. I bought my current place with a Nationwide mortgage. I remortgaged to first direct two years later. And ever since then I've simply rebooked a new rate with first direct when my initial term has expired.
0 -
What about a product switch with your current lender?
Also raise a complaint with your old Conveyancer0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.8K Banking & Borrowing
- 253K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.8K Work, Benefits & Business
- 598.6K Mortgages, Homes & Bills
- 176.8K Life & Family
- 257.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards