Timing a remortgage with Early Repayment Charge

XEO25

Hi, I'm looking to remortgage with a new lender (NatWest) for a much better rate + for some additional borrowing. I have an AIP from NatWest and we're about to go into full application.

My existing fixed mortgage has an ERC of 3% up until 30 Sep, which drops to 2% on Oct 1st. 

Is it possible to go through the full application now with Natwest but hold fire on completion until Oct 1st to avoid the 3% ERC? I'm doing it with a broker but he's on holiday for the next week so I can't ask him until he's back.

Thanks to anyone who can advise.

Zerforax

Yes - it's quite normal to go through the process but it be on hold until a set date (such as when ERC expires or reduces).

kingstreet

The solicitor/conveyancer handling the transaction will ask you for your preferred date.

XEO25

Amazing, thanks both