Remortgage Pricing

Remortgage Pricing

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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:

  • 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
  • Change of property use to 'Buy-to-let'

Why Us

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.

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.

Pricing

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 transaction there are any new developments, for example this can arise where our investigation of your title flags up defects or queries which have to be resolved. We will discuss any change in fees with you at the earliest opportunity and agree a way forward.

Click here for an estimate of your remortgage costs

If you would like an exact cost quotation please call us on 01242 574244.

Disbursements

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

Exclusions

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.

Time Scales

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.

Key Milestones

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 redemption statement from your current mortgage provider
  • Obtaining Official Copies of the property title 
  • Checking the registered title
  • Leasehold properties will require the lease to be checked and enquiries made if relevant
  • Carry your searches or obtaining search insurance if accepted by the new mortgage provider
  • Checking the mortgage offer
  • Preparing for completion
  • Requesting final redemption statement from the current mortgage provider
  • Requesting the mortgage advance from the new mortgage provider
  • Completion of the new mortgage 
  • Registration of the new mortgage of the Land Registry 

Click here for an estimate of your remortgage costs

If you would like an exact cost quotation please call us on 01242 574244.