Reasons to re-mortgage your property
Re-mortgaging property is common practice. In fact, around a third of all UK home loans are re-mortgages.
There are many reasons why you might want to re-mortgage. It could be that the interest deal has expired, or that your circumstances have changed, and your income has gone up or down. You may also benefit from re-mortgaging your home if your living arrangements have changed because you’re now married or divorced.
Re-mortgaging can allow you to:
- Reduce the interest rate on your mortgage
- Secure your monthly payments against any potential rate rises in the future with a capped or fixed-rate mortgage
- Raise money for other projects
- Consolidate your debts
In short, in many circumstances re-mortgaging can financially benefit you in numerous ways.
Finding the best mortgage for you
Your mortgage advisor can help you find and secure the right mortgage for you. They will look at several factors and present you with the best mortgage options that you are eligible for, before you make your final decision and proceed with the mortgage application process.
Once you have decided on the right mortgage for you it’s time to instruct your solicitor.
Instructing your conveyancing solicitor
When you get in touch with our team, we will firstly generate a tailored quote for you based on the details you have provided. If you are happy with the quote and want to proceed by instructing us, we will send you our client care pack with a number of forms for you to complete.
We can send you your client care pack either by email or post, whichever is preferred.
The re-mortgaging conveyancing process
Once we receive your completed forms, we will start the legal work. We review the property title and the documents you returned to us and provide you with a detailed report on your mortgage offer and any lender specific enquiries. Some lenders also require new searches.
Once these enquiries have been answered and search results have been retirned, we can then arrange for the signing of your documents including the mortgage deed.
In order to redeem your existing mortgage, we will obtain the necessary redemption figure from your existing mortgage provider, after which we will request the mortgage advance from your new mortgage lender. With the mortgage advance from your new lender we will repay your existing mortgage and transfer any leftover balance to you.
We will have the new charge registered at HM Land registry and provide you with a copy, concluding the re-mortgaging process.
If your remortgage includes a transfer of equity, please speak to us for a bespoke quote and requirements. The party to be removed from the title will need separate representation and there will also be stamp duty land tax implications to be considered.
Our re-mortgaging services
Our approach is open, straightforward and friendly, as we want you to feel at ease in the knowledge that your re-mortgage conveyancing is in safe hands.
Within our promise to you, we will always endeavour to:
- Be transparent about all our fees
- Be available to speak to you when you have questions
- Keep you fully up to date throughout the conveyancing process
- Provide you with the same quality advice and support every time you speak with us
- Be efficient, ensuring your conveyancing process is completed as quickly as possible
Whatever your conveyancing needs may be, we are here for you.
Starting the process couldn’t be more simple!
- Contact us Get in touch however suits you best and arrange a consulation with one of our solicitors
- Meet an expert You’ll meet the expert solicitor assigned to your case and discuss all the necessary details
- Authorise Once we’ve got all the details of your case and you’re happy to proceed, just give us the go-ahead
- We get to work It’s time for us to get to work! We’ll set up your file on our system and get to work right away
What our clients are saying about us
Our Promise to You
Friendly, personal legal services
We promise that our approachable solicitors will provide you with a genuinely personal service that puts your needs first. Our team of experts are always on hand to give you support when you need it.
Award-winning service in our fields of expertise
We pride ourselves in offering the highest standards of service across each of our legal departments. Regardless of your situation, we promise to provide you with the very best legal advice.
Advice tailored to your needs
We promise to listen to your needs and offer the right guidance for your situation.
There is no ‘one-size-fits-all’ solution in any area of the law. Every case requires a tailored approach and you deserve a solicitor who understands this.
Outstanding customer service and care
Our excellent reputation is built on our exceptional level of client care.
Every case is handled with the highest level of respect and many of our clients go on to recommend us after building an invaluable relationship with our solicitors.
Transparent fees and processes
Transparency is very important to us. We promise to provide you with total Transparencyrency on fees, so you know exactly what you are paying for. We’ll also make sure you’re kept updated on the progress of your case every step of the way.
Get in touch
Let us know how AWH Solicitors can help you by providing us with your details in the form below.
Please let us know when you want to be contacted so we can get in touch with you at a time that suits you best.