Mortgage Offer - not sure

[SayNoToDoorToDoor]

My current fixed term mortgage runs out on 31 March 24. I went through a mortgage broker who found me a good 5 year deal (well the best deal until current circumstances) for my remortgage.

The offer has landed but while it says the offer is valid until 1 April it says the mortgage starts in 1 January. I was given 3 identical offers to share with my solicitor and conveyancer.

I don’t have a solicitor and conveyancer as it’s a remortgage.

In the pack is a deed of consent saying I agree to “postpone any rights or interests in the property” and I will agree to “immediately vacate the property and give up possession of the property to us if we exercise our rights under the mortgage”.

For info: there’s a lot of equity, my mortgage is 25% of the value of the house.

is this sort of thing common? I wasn’t expecting to have to go to a conveyancer for a remortgage. It does say I should take independent legal advice, I know this is mumsnet not legal but I’m trying to gauge if this is normal.

That should be I don’t remember having to instruct a solicitor/conveyance for a remortgage.

So google says yes to a conveyancer but may be included free with the lender. I’m just unsure what I’m signing with the legal mum I jumbo and the date.

Two things. The date they've put as the start date is an assumption to be able to give you what your repayments are because the first payment can be slightly more than normal dependent on your direct debit date. The offer will still be valid until April 1st and you will still be able to start the new one the day after your fixed rate ends.

Secondly I assume you are using a different lender to who you're with now? If you are you need a conveyancer to ensure your current mortgage is repaid in full by your new one and the land registry title is switched, some mortgages do have 'free legals' though and do it for you. If not it'll cost about £300 through a conveyancer.

The 'vacate the property' wording is very normal and is to ensure if they need to take possession of the property they can legally get you out. Although I imagine this will be an unlikely requirement.

If you remortgaged through your current Lender the process would seem more straightforward. Are they not able to offer you a comparable rate to the new Lender?

A lot of the wording doesn’t apply to you though, it’s just standard.

Yes, you need a conveyancer for a remortgage. They need to report to you on mortgage offer, repay your existing and more importantly attend to the registration at Land Registry.

A deed of consent is if you have someone living with you who isn’t party to the mortgage.

Can your existing lender provide a comparable- it would make life easier.

Speak to your broker just to make sure they have instructed the correct date, i imagine its a standard wording "assuming your mortgage starts on x date your payments will be y" but worth checking

Thank you everyone.