Tel: 01689 887887
Making the decision to remortgage your home can be just as life changing as buying your first property.
A remortgage is when you either renegotiate with your current lender or change the mortgage on your property to a new lender. It is important to speak to a mortgage adviser who can go through the options with you and make sure you get the right deal for what you want to achieve.
There are many reasons you may wish to remortgage such as:
- To reduce the interest rate on your mortgage
- To fix your monthly payments and protect against possible future rate rises
- To raise money to carry out home improvements
- To raise a cash lump sum by releasing equity from your home
- Change in personal circumstances such as a marriage or divorce
- To consolidate your debts.
We have a highly efficient experienced team who will ensure that your remortgage occurs as quickly and as smoothly as possible. You will have one person dealing with your file who is dedicated to looking after you. All conveyancers are directly contactable on their direct dial numbers and by email. We will keep you up to date at all the stages of the process.
We are fully accredited with the Conveyancing Quality Scheme (CQS) quality mark standard.
We work on a fixed fee basis, so you will know exactly how much your remortage is going to cost from the outset.
If during the process there are any new developments which could lead to an additional cost, we will discuss the change in fees with you at the earliest opportunity and agree a way forward.
Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
We do not undertake mortgage or tax advice and we would recommend you seek advice from an independent mortgage broker or financial adviser.
We do not carry out valuations on your home, this will be conducted by your new lender.
A typical remortgage takes between 6 and 8 weeks, however it can be longer if there are any complications such as an application being rejected. The process may also take longer if you switch lenders compared with getting a new deal with your current mortgage company.
With every transaction there are key milestones, which may vary according to individual circumstances. They may be as follows:
- Taking your instructions and giving initial advice based on the information you have provided
- Requesting the Title Deeds and Redemption Statement
- Obtaining Official Copies of the Title
- Checking the Title
- Checking Official Copies
- Leasehold properties will require the lease to be checked and enquiries made if relevant
- Checking the mortgage offer
- Preparing for completion
- Requesting final redemption statement
- Requesting the mortgage advance