Whether your current mortgage deal is due to expire, you want to borrow more money, or your family circumstances have changed – re-mortgaging doesn’t need to be confusing.
Are you looking to re-mortgage?
Our team of expert conveyancing solicitors are ready to help you and discuss your re-mortgage options and can provide you with a no-obligation quiote.
Our expert conveyancing solicitors have put together the following guide to help you navigate your options.
Your options
The re-mortgaging process is much more straightforward than buying a new home, as the deeds are already registered in your name.
Got the best deal and settled on a new mortgage product? Get in touch with our expert solicitors to handle the legal side of the re-mortgage for you.
Three top tips for re-mortgaging your home:
- Do your research
- Expect some admin fees
- Make sure your paperwork is in order
It’s all in the preparation
Once you’ve spoken to a financial adviser or broker and selected the best mortgage, an ‘agreement in principle’ will be issued.
This is not a mortgage offer – it will only be granted when the valuer has visited your property and confirms it is suitable to lend against.
We’ll need various information from you, including your existing mortgage account number, which should be on your last statement – but we can discuss this with you. We will contact your lender to obtain a redemption figure, arrange repayment and request the title deeds.
Your documentation
When the mortgage offer is received from your new lender, we will obtain searches, if required, and check all documentation to ensure the deal is what you expected. Once everything is in order, we will agree on a completion date with you.
Leasehold properties
Re-mortgaging a leasehold property is a little more complicated and will require extra work to get it across the line. But that’s where we come in, so don’t worry.
What you’ll need to provide
You will need to supply us with the name and contact details of your freeholder and any management company, as they will want the information about your new mortgage on completion.
We will also require a copy of your insurance and information about the ground rent and service charges, plus confirmation that you are complying with the lease terms.
Completion
As we work towards completion, your new lender will send us the money to pay off the outstanding mortgage on your property, and we will formally record the new charge with the Land Registry.
The next step
Our team of expert conveyancing solicitors are ready to help you and discuss your options. We’ve provided a simplified overview of the re-mortgaging process here.
Let’s talk today. Call us on 0114 218 4015, e-mail newbusiness@tayloremmet.co.uk or complete our enquiry form for a no-obligation quote.
Fee Information
RE-MORTGAGING – Upto £500,000
The process of re-mortgaging is simpler than buying a new home because the deeds of the property are already registered in your name. Call our conveyancing team at Taylor&Emmet on 0114 218 4000 or contact us online so we can provide you with expert legal advice.
Includes legal fee, land registry service charges, bank transfer fee, search insurance and land registry fee.
- Dealt with by a conveyancing specialist
- Matters usually take 4-8 weeks
- Meet the team **
PRICE: £500* including VAT
RE-MORTGAGING – Over £500,000
The process of re-mortgaging is simpler than buying a new home because the deeds of the property are already registered in your name. Call our conveyancing team at Taylor&Emmet on 0114 218 4000 or contact us online so we can provide you with expert legal advice.
Includes legal fee, land registry service charges, bank transfer fee, search insurance and land registry fee.
- Dealt with by a conveyancing specialist
- Matters usually take 4-8 weeks
- Meet the team **
Contact Us For A Quote
PRIVATE MORTGAGE
These are used to secure loans and other payments against residential properties in very much the same way as a bank or building society would secure a mortgage against a property. They are increasingly used by family members who may be providing funds or assistance towards the purchase of a property, but could be used in other situations where repayment of a loan or other debt is to be secured against a property. Our fees are for acting on behalf of either the lender or borrower when they are lending or borrowing in an individual capacity. Professional rules mean we cannot act for both parties in a private mortgage.
- Dealt with by a conveyancing specialist
- Matters usually take 4-8 weeks
- Meet the team **
PRICE: £750* plus VAT and Land Registry fee (as applicable)
LIFETIME MORTGAGES
Lifetime mortgages are an increasingly popular way of releasing equity from your property. Typically a lifetime mortgage will not require repayment during your lifetime and you will only repay the mortgage in the event of your death or should you have to move into residential care. Unlike standard mortgages most lenders will instruct their own solicitors to act on their behalf and our standard fees include advising on the legal arrangements completing the necessary paperwork and liaising with the lenders solicitor. Other lifetime mortgages and equity release schemes exist and will be quoted on an individual basis.
- Dealt with by a conveyancing specialist
- Matters usually take 4-8 weeks
- Meet the team **
