Our conveyancing team is qualified to deal with all manner of conveyancing transactions. If you have a more unusual transaction, we will be more than happy to discuss this.
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.
The remortgaging 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 be completed.