Remortgaging

Remortgaging

Need to remortgage? We make the legal process simple and support you every step of the way.

You may be remortgaging your property for many different reasons, for example, switching to a mortgage lender with a better interest rate or a more flexible over-payment plan. Whatever your reasons, we offer the best service to help you with the legal process of remortgaging. As part of our remortgaging service we will:

• Obtain your deeds from your current mortgage lender.
• Liaise with your new lender with regard to taking out the new mortgage.
• Complete all necessary stages of the transaction including the submission of searches.

We will advise you throughout the process – helping to complete the transfer of mortgages as quickly and efficiently as possible.

The remortgaging process

1. Once you have instructed us we will contact your existing lender to request your title deeds and a redemption statement to find out how much money is owed on your existing mortgage and any other loans.
2. We will await your mortgage offer and check the title documentation.
3. After the offer is received we will check special instructions from the lender. In some cases it may be necessary to carry out searches against the property. This depends upon the lender.
4. We forward the mortgage deed to you for signature and also send you the redemption statement for your existing mortgage (and any other loans, if applicable).
5. We will then agree a completion date with you.
6. Once the documentation is returned to us together with any balance payable (if applicable) we can arrange the completion. (Most lenders require one week’s notice).
7. On completion day we will pay off your existing mortgage (and other loans, if applicable), collect our legal fees and disbursements and will forward any remaining money to you.
8. We will arrange to register the new mortgage at the Land Registry. Once the title is registered we will supply a copy to you and send the original document to your lender.

 

If you would like to speak to us about remortgaging your property please fill in a contact form here or call us on 01244 312306. We would be more than happy to help.