Remortgage completion day is the final stage in the process.
It’s the moment when the required financial and legal checks are done and as a homeowner your mortgage officially switches from one deal to another.
Or, if you’re staying with the same lender, your mortgage switches to a different product.
Of course, the completion of a remortgage – in contrast to a mortgage – is different because you’ll continue living in the same property rather than moving.
What actually happens on remortgage completion day? Let’s find out.
What to expect when your remortgage is agreed
There are several things to do before you arrive at the remortgage completion date.
First, it’s crucial that you contact one of our expert mortgage advisors who can assist with carefully and fully exploring options to ensure you make an informed decision.
Unsure where to start? Why not arrange a consultation with a member of our team today?
Once you’ve selected a deal best suits your circumstances, you can proceed.
In practical terms, a remortgage is essentially a loan that pays off an existing one – and a legal professional – usually a solicitor – will have a part to play making sure the relevant paperwork is in order.
They should also provide you with a completion statement and ensure payment is arranged.
What happens when your remortgage is completed?
The remortgage completion date is usually during the week, and completion happens during business hours.
When you’ve received confirmation the remortgage process is complete, you’ll be tasked with registering the new mortgage at the Land Registry (if the address is in England or Wales). Your solicitor will assist with this.
You’ll also receive details of the new repayment schedule and any other relevant information.
Have any questions or doubts? It’s best to check with your lender about terms and conditions attached to your mortgage product.
Put your trust in UKMC when remortgaging
There’s plenty to consider before remortgaging, which is why it makes sense to seek support.
UKMC’s mortgage advisors make the process less daunting, and are committed to transparency when it comes to costs or fees.
Whether you’re curious to find out what happens on remortgage completion day, or want to assess your options if your existing mortgage deals is due to end soon, we can help.
Don’t just take our word for it; look at more than 400 positive reviews on Trustindex.
If you’re looking to secure the best remortgage deal for you, why not arrange a consultation today?
Our remortgage advice process is quick, seamless, and hassle-free – what’s not to like?
To get started, complete our online contact form or book your own appointment.
Disclaimer
UK Mortgage Centre is a trading style of Refresh Mortgage Network Limited.
Refresh Mortgage Network Limited is authorised and regulated by the Financial Conduct
Authority. FRN – 826982. Registered in England & Wales: 11614569.
As a mortgage is secured against your home, it could be repossessed if you do not keep up
the mortgage repayments.
The Financial Conduct Authority does not regulate some forms of buy-to-let mortgages.
The Financial Conduct Authority does not regulate will writing and taxation and trust advice.
