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
Why Us
We are experienced lawyers who understand the stress involved in re-mortgaging your property. Our approach is simple; we provide a first-class service when dealing with all of the legal details of a property transaction on your behalf.
We have the legal and technical “know how” to resolve any issues as they arise in a professional and efficient manner. We understand that communication is key, so will make sure we are always available to answer your questions in plain English and ensure you are kept up-to-date with everything you need to know.
You will have the confidence that you are our priority, with our aim being that we are available to speak with you when you need some clarity and certainty at any stage in the process. We feel this provides reassurance and gives you an outlet for any concerns that you may have. Potentially this is the biggest investment of your life and we not only want to provide that first-class service, but value for money and no hidden fees.
We are proud to hold a CQS Accreditation, issued by the Law Society. This involves the firm undergoing a rigorous audit process which ensures we maintain high levels of client care.
Pricing
We work on a fixed fee basis, so you will know exactly how much your remortgage 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.
Our fees are set out as:
Remortgage
Our fee for a re-mortgage transaction is £895.00. In addition, VAT of 20% will be charged.
For each bank transfer of funds we make during the transaction we will charge a fee of £30.00. In addition, VAT of 20% will be charged.
Disbursements
Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees and search fees. The amount of the Land Registry fee depends on the purchase price and details can be found on the Land Registry’s website HM Land Registry: Registration Services fees - GOV.UK (www.gov.uk). The amount of the search fees are typical around £300.00 inclusive of VAT at 20%. We handle the payment of the disbursements on your behalf to ensure a smoother process.
These fees may be subject to change if further information relating to your property becomes available.
Exclusions
We do not deal with the re-mortgage of a leasehold property.
We do not undertake mortgage or tax advice and we would recommend you seek advice from an independent mortgage broker or financial adviser.
We do not carry out valuations on your home, this will be conducted by your new lender.
Time Scales
A typical remortgage 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
With every transaction there are key milestones, which may vary according to individual circumstances. They may be as follows:
- 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