Remortgage conveyancing timings

kostic2000

Hi,

I am in process of remortgaging to a diffefent lender and already got a mortgage offer, conveyancer has my signed mortgage deed and their portal says nothing is outstanding as of yesterday (19/09).
My current lender is Nationwide and ny current deal runs out at the end of this month. I left remortgaging quite late, as Initially was thinking of staying with Nationwide.

Anyway, I specified my preferred completion date as 1st of October, and on the question how long this would take the conveyancer said he's working towards this date. At the same time the underwriter from the new lender was saying conveyancing would probably take 6 weeks or something. Not sure which is more likely to happen? Is 10-14 days a realistic time frame at this stage?

I could switch a deal with Nationwide to a fee free tracker (no ERC) from 1st October in the meantime to avoid rolling into SMR for an unknown amount of time. This would save 1.84% in rate. Not sure what would then happens if the conveyancer does hit 1/10 deadline.

Kostic

amnblog

The typical delay is getting the redemption figure (balance to be cleared) from Nationwide.

If the Conveyancer has that you have a decent chance.

When dealing with re-mortgage conveyancers appointed by the new Lender keep on top on them, call them, don't rely on an app. 'The squeaky wheel gets the oil'.

kostic2000

Thanks for the reply.

Yes, they do have a redemption figure and communicated it to me. IUUC, they will need to get a fresh one a couple of days before completion.
The solicitor involved is part of this bigger companies that lenders use, but this person's name specifically mentioned in some rave reviews and praised for efficiency. So far my messages have been replied to very promptly.
So here's the hope.

kostic2000

Update for those searching later. My remortgage did complete on the 1st of October, which means it took 3 weeks from the application to completion. And this included valuation where surveyor actually visited the house. Solicitor/conveyancer involved was very efficient and responsive, although my case was very straightforward.

kostic2000

Update for those searching later. My remortgage did complete on the 1st of October, which means it took 3 weeks from the application to completion. And this included valuation where surveyor actually visited the house. Solicitor/conveyancer involved was very efficient and responsive, although my case was very straightforward.