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A remortgage is when you either renegotiate with your current lender or change the mortgage on your property to a new lender. Speaking to a mortgage adviser might be helpful as they 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:
We have an experienced team who understand the stress involved in re-mortgaging your property, who know how the mortgage lenders work. Our approach is a simple, we provide a first-class service from our expert team who make the difference by taking the stress away from you and dealing with matters on your behalf.
Our Residential Property Department is led by Heidi Aitken, Director and Head of Residential Property. Click here to learn more about the team.
Good communication is key to making the remortgaging process as simple as possible for you. Our team of highly qualified solicitors supported by experienced conveyancers and legal executives have the legal and technical “know how” to resolve any issues as they arise in a professional and efficient manner, while making sure everything you need to know is explained as clearly as possible.
You will have the confidence that you are our priority, with our aim being that any member of the team is available to speak with you when you need some clarity and certainty at any stage in the process. We feel this provides reassurance and gives you an outlet for any concerns that you may have. We not only want to provide that first-class service, but value for money and no hidden fees.
We are proud to hold The Conveyancing Quality Scheme Accreditation, issued by the Law Society. This involves the firm undergoing a rigorous audit process which ensures we maintain high levels of client care.
We work on a fixed fee basis, so you will know exactly how much your remortage is going to cost from the outset.
Where there is likely to be any additional cost, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided. This could be on a fixed fee (e.g. if a one off letter is required), or an hourly rate if more extensive work is needed. Prices are dependent on the level of expertise required to ensure the service is delivered.
Click here for an estimate of your remortgage costs
If you would like an exact cost quotation please call us on 01242 574244.
Disbursements are any costs related to your matter which are payable to third parties, such as search fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Normally your Lender will be happy to accept search insurance as a cheaper alternative. If this is not possible then a full suite of searches will have to be purchased at an additional cost. Land Registry fees are quoted assuming that we can make an online application to update your title. Very occasionally this is not possible and a higher fee will have to be paid.
If your property to be remortgaged is leasehold it is likely that we will need to obtain information from the managing agents or freeholder who will charge a fee for this information
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:
Click here for an estimate of your remortgage costs
If you would like an exact cost quotation please call us on 01242 574244.