Remortgaging

We have been helping our clients with remortgaging for over twenty years.

For whatever reason you are thinking of remortgaging you usually tend to want to complete fairly quickly. Whether for a better deal, to release cash for a new venture or simply to pay some funds off your mortgage you often need to arrange the completion fairly quickly. We help a range of clients with our services including:

• Equity Release
• Taking out a New Mortgage/Loan over a property
• Remortgage – Change product or mortgage lender

There are lots of reasons for remortgaging including divorce/ partnership breakdown, marriage or adding a partner to a mortgage, second mortgage/ secured/business loan or investment purposes.

What’s involved/ Why do I need a Solicitor?

Remortgaging can be relatively straightforward especially if new mortgage documents come through quickly and if we have all the information we need. There are sometimes delays if unexpected issues or problems come up but in most cases we can usually deal with them and move progress along. Mortgage companies will require you to sign the paperwork in front of a solicitor to act as a witness. We then need to attend to paying off any old mortgage and registering the new mortgage at the Land Registry.

How long will it take?

This depends on what the new mortgage company requires and how quickly they conduct the valuation and issue the remortgage offer. However, it typically takes somewhere between three and six weeks.

Once you instruct your solicitor they will be able to obtain your deeds, confirm identification, satisfy money laundering requirements and obtain a repayment statement from your current mortgage lender.(If you have one)

After the mortgage offer is issued by the new lender they will send you the mortgage deeds to sign and return; when they have the signed mortgage documents your solicitor can arrange a completion date with the lender.

The new lender usually requires a working week’s notice to send the mortgage funds; from when you get your written remortgage offer it’s typically possible to complete within two to three weeks assuming there are no complications.

We have been helping our clients for over twenty years and we understand that usually the financial situation calls for a swift completion. Therefore, we can deal with paperwork by post, person, email to ensure the transaction is dealt with as quickly as possible.

Contact Solicitor Direct

For free initial advice just call 01772 424999, email enquiries@solicitordirect.com or visit us at 71 Hough Lane Leyland PR25 2SA