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Remortgaging A Property
As well as acting in the sale and purchase of homes we also regularly act in relation to remortgaging properties.
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.
Contact us today at 0344 854 7000 or fill in our online enquiry form below and we will get back to you at a time best suited for you.
What is remortgaging?
This is the process of changing the mortgage on your property to a new lender or a different deal. You may choose to remortgage for several different reasons including:
- Your fixed deal is up for renewal
- You’re 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
How much does it cost to remortgage with True Solicitors LLP?
A full breakdown can be found on the Remortgage and Transfer of Equity Fees page.
What is the remortgaging process?
Remortgaging may seem like a daunting process but it can be straightforward, especially if you use a property solicitor like True Solicitors LLP.
Below, you’ll find the process:
- Research your mortgage deal – find an agreement that’s right for you based on the duration, interest percentage and affordability
- Check any additional costs – as well as finding the mortgage costs, you should consider additional remortgaging fees such as valuation costs, early repayment charges, etc.
- Get a decision in principle – apply for the mortgage for a soft credit check to see if you’ll likely be accepted for the mortgage
- Apply for the remortgage – submit an official application for a hard credit check – you’ll have to send over the requested documents
- Instruct a solicitor to complete the legal side – your solicitor will manage your paperwork for your new mortgage
- Review and accept your offer – if you’re happy with the mortgage once you’ve had a final check, you should accept it
- Complete the mortgage – agree a date for your mortgage to complete
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 deed
If your transaction is complicated we would suggest that you contact us for a competitive, free, no-obligation quote on 0344 854 7000, email us at email@example.com or submit an enquiry via the form on our website, and we will contact you without delay.
How long will my remortgage take?
The time it takes to complete a remortgage depends on the complexity of the issues and the number of parties involved. Straightforward transactions may be completed in only four weeks, whereas more complex transactions will take longer.
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.Get in Touch
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"Dawn is excellent! Always approachable, professional and available. As a landlord I am happy to place all my business with Dawn. Have already recommended Dawn to my niece and she was over the moon with the work Dawn did."