Are you unsure about the remortgage process? Do you have questions about how quickly things happen? This article will clear up any confusion, answer some of the most frequently asked questions about remortgage timescales and provide advice about how you can help speed up the process.
How long does the process take?
Some of the most common questions asked by customers relate to remortgage timescales. For a straight forward case, we aim to complete the remortgage within 4 weeks of receiving a mortgage offer from your new lender. However, to do that we need you to return your completed documents as soon as possible. If your transaction is more complicated, it may take longer but don’t worry, we’ll keep you updated on progress.
How will I be contacted throughout my transaction?
We’ll give you the opportunity to tell us how you would like to be contacted. We offer online updates, SMS messages, telephone and letter.
How will I know my case has completed?
At completion, we’ll contact you to tell you that the remortgage has completed and so will your new lender.
How quickly will I receive my surplus?
If you complete the appropriate section on the questionnaire with your bank details, we’ll automatically send any surplus proceeds to you on the day of completion by electronic transfer, however you can choose to receive your money by cheque through the post.
What happens after I have completed my remortgage?
We’ll update the Land Registry with details of your new mortgage and your new lender will contact you about payment dates and amounts.
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