Remortgaging simply means getting a new mortgage on your current home. Did you know that on average 39,000 homeowners remortgage every month in the UK? There are many reasons why you may wish to remortgage your home, whether you simply want to reduce your monthly payments or you wish to release equity, Hodgkinsons can help you.
Remortgaging can sometimes result in significant savings. It is typically recommended that homeowners should remortgage their properties when their fixed-rate deal has come to an end, or if they are on their lender’s standard variable rate, or if their property has gone up in value. The remortgaging process can take a few months to complete, which is why you should instruct a Solicitor to assist you up to six months before your current mortgage is due to expire.
When remortgaging there are a number of legal tasks, checks and searches which your Solicitor will be required to carry out including the following:
- ID Checks
- Obtaining details of your current mortgage
- Prepare your redemption statement
- Request searches
- Check through the fine print of the terms and conditions
- Prepare for the signing of the new mortgage deed
- Receive new mortgage funds and pay off your old mortgage
- Register the changes with the Land Registry
It is important that all the financial and legal details of a remortgage are handled correctly. Our Residential Conveyancing Team will always make sure that all the necessary details and tasks have been carried out correctly, whilst ensuring that your matter runs as quickly and as smoothly as possible. Our experienced Remortgage Solicitors will keep you informed throughout the entire process and provide you with only practical and transparent advice regarding both our services and our fees. Our Team have many years of experience in assisting clients to remortgage both freehold and leasehold properties. Whilst remortgaging a leasehold property requires additional work, our specialists have expert knowledge of the process and they will be happy to assist you.
If you are interested in remortgaging your residential property or buy-to-let property, our specialist Team of Residential Conveyancers can assist you. Hodgkinsons Solicitors, Skegness, are a Conveyancing Quality Scheme and Lender Exchange accredited law firm offering conveyancing services to homeowners in the East Midlands, rural Lincolnshire and Skegness including surrounding areas such as Boston, Lincoln, Grimsby and Louth. To find out more about how we can help you to remortgage your home, call us on 01754 897150 or submit a contact form and a member of the Team will be in touch.