Thank you for looking at our property services. 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 correct mortgage 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 an experienced team who understand the stress involved in re-mortgaging your property, who know how the banks, building societies and mortgage lenders work. Our approach is 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 and stress-free as possible for you. Our team of highly experienced lawyers 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. We not only want to provide a first-class service, but value for money and no hidden fees.
We are proud to hold Lexcel and CQS Accreditations, 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 remortgage is going to cost from the outset.
If during the transaction 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.
Our fees are set out as:
We estimate that for most residential remortgages our fees will be between £750 and £1500.
Example Remortgage – Remortgage value of £200,000
|Telegraphic Transfer Administration Fee||£25||£5||£30|
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.
|Electronic Money Transfer Fee||£16||£3.20||£19.20|
|Land Registry Fee (£3 per title)||£3||£0.60||£3.60|
|Bankruptcy Search (£2 per name)||£4||£0.80||£4.80|
|Land Registry Registration Fee||£30||£6||£36|
|Grand Total for Example Remortgage||£1403||£280.60||£1683.60|
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.
In the current climate it is more difficult than ever to provide a timescale for the completion of your matter. Pre Covid-19 we were working on a timescale in the region of ten to twelve weeks from acceptance of an offer, but the process is taking longer for all involved in the property sector including surveyors, banks and local authorities. We will progress your matter as efficiently as practicable but please be aware that matters are taking longer to reach completion than they have traditionally.
A remortgage it can also take longer if there are any complications such as an application being rejected or if you switch lenders compared with getting a new mortgage 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
- Carrying out Searches (if required by the lender)
- 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
- Completion and reporting to you
- Registration of new mortgage