Thank you for looking at our property services. Making the decision to remortgage your home can be just as life changing as buying your first property.
A remortgage is when you either renegotiate with your current lender or change the mortgage on your property to a new lender. It is important to speak to a mortgage adviser who can go through the options with you and make sure you get the right deal for what you want to achieve.
There are many reasons you may wish to remortgage such as:
To reduce the interest rate on your mortgage.
To fix your monthly payments and protect against possible future rate rises.
To raise money to carry out home improvements.
To raise a cash lump sum by releasing equity from your home.
Change in personal circumstances such as a marriage or divorce.
To consolidate your debts.
Pricing
We work on a fixed fee basis, so you will know exactly how much your remortage is going to cost from the outset.
If during the transaction there are any new development which could lead to an additional cost, we will discuss the change in fees with you at the earliest opportunity and agree a way forward.
To make the process of re-mortgaging as convenient as possible for you we have installed a Conveyancing Quote Calculator on our website which will allow you to input your re-mortgage details to generate an instant conveyancing estimate. Please note that so we can generate an instant and accurate conveyancing quote you will need to input all the information requested on the calculator. Once you have input the requested information our conveyancing calculator will generate a quote which includes the following information:
Legal Fees
Search fees
HM Land Registry fee
Electronic money transfer fee
VAT payable
Estimate Total
Disbursements
Disbursements
ID Check
Telegraphic Transfer Fee
Land Registry Fee
Bankruptcy Search
Land Registry Pre Completion Search
Nationwide Conveyancing Search Pack
VAT payable
Estimate Total
*VAT is charged at the current rate of 20%.
Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. Our conveyancing quote calculator will supply you with an estimate of the cost of disbursements; the table below indicates the items that usually need to be paid for on a re-mortgage.
Exclusions
We do not undertake mortgage advice and we would recommend you seek advice from an independent mortgage broker or financial adviser. Our conveyancing team are not tax advisors but we can obtain tax advice from other in-house staff should this be required. If you request us to do so fees will apply.
We do not carry out valuations on your home, this will be conducted by your new lender.
Time Scales
A typical re-mortgage takes between 6 and 8 weeks, however it can be longer if there are any complications such as an application being rejected. The process may also take longer if you switch lenders compared with getting a new deal with your current mortgage company.
Key Milestones
Taking your instructions and giving initial advice based on the information you have provided.
Requesting the Title Deeds and Redemption Statement.
Obtaining Official Copies of the Title.
Checking the Title.
Checking Official Copies.
Leasehold properties will require the lease to be checked and enquiries made if relevant.
Searches.
Checking the mortgage offer.
Preparing for completion.
Requesting final redemption statement.
Requesting the mortgage advance.
Completion.
Registration.
If you have any immediate questions on this topic please do not hesitate to contact us using the enquiry form or call us on 01245 493939.
Get in touch
If you want to find out more about the services we can offer you, please feel free to get in touch.
