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Remortgaging & Transferring Equity
As well as acting in the sale and purchase of homes we also regularly act in relation to the following :
- The purchase and sale of Buy to Let properties
- The purchase of New Build houses, flats and apartments
- The purchase or sale of Help to Buy property
- The purchase or sale of Shared Ownership property
- Transfers of Equity (for example following a marriage or divorce)
- Re-mortgages
Our conveyancing team are qualified to deal with all manner of conveyancing transactions. If you have a more unusual transaction, we will be more than happy to discuss whether TRUE can act for you.
Read our complete guide to Conveyancing and Remortgaging here.
Contact us today on 0191 260 6571 or fill in our online enquiry form below and we will get back to you at a time best suited for you.
Remortgage and Transfer of Equity Fees
Please see the illustrative guide below for the approximate fees for remortgaging and transferring equity in your home:
Remortgage and Transfer of Equity Fees
What is Remortgaging?
This is the process of changing the mortgage on your property to a new lender or different deal. You may choose to remortgage for a number of different reasons including:
• Your fixed deal is up for renewal
• Your looking to change to a mortgage repayment plan with a better interest rate
• You want to borrow more money to make home improvements – for example to build an extension.
• Your financial circumstances have changed – for example you need to reduce mortgage payments due to a divorce.
Do I need to instruct a solicitor if I am remortgaging?
You will need to use a conveyancer in the following situations:
• Transfer of Equity: If you are adding an additional person to the mortgage when you remortgage, this is known as a transfer of equity. It involves the changing of legal ownership of the property and therefore requires a solicitor. A solicitor will amend the deeds of ownership and draw up new paperwork stating how you will now own the property.
• Removing a person from the mortgage: This also involves the legal change in ownership of the property, so a solicitor is required to amend the deeds
If your transaction is complicated we would suggest that you contact us direct for a competitive, free, no obligation quote on 0344 854 7000, email us at info@true.co.uk, or submit an enquiry via the form on our website, and we will contact you without delay.
How Long Will My Transaction Take?
The time it takes to complete any transaction depends on the complexity of the issues and number of parties involved. Straightforward transactions may be completed in only 4 weeks, whereas more complex transactions will take longer.
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