Dear All,
I am refinancing from Bank of Melbourne to Commonwealth Bank, so far I have been waiting for two weeks since CBA is ready to settle. This is my first time refinancing, just wondering if you have an experience in refinancing and how long will it normally take after your new bank is ready to settle?
Thank you beforehand.
property_avid | NA
around 2 weeks after returning signed docs – but Generally the outgoing mortgagee will try to delay things.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Thank you Terry. But normally does the outgoing mortgagee have time limit (deadline) of when they can delay the process until?
property_avid | NA
No limit. They will have policies in place, but they will also claim discharge forms have not been received, or they are incorrectly filled in.
I would suggest you try to find out what the delay is and if it is the outgoing Mortgagee then get onto their complaints department.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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