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
We have an experienced team who understand the stress involved in re-mortgaging your property, who know how the banks, building societies and mortgage lenders work. Our approach is simple; we provide a first-class service from our expert team who make the difference by taking the stress away from you and dealing with matters on your behalf.
Good communication is key to making the remortgaging process as simple and stress-free as possible for you. Our team of highly qualified solicitors have the legal and technical “know how” to resolve any issues as they arise in a professional and efficient manner, while making sure everything you need to know is explained as clearly as possible.
You will have the confidence that you are our priority, with our aim being that any member of the team is 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. We not only want to provide that first-class service, but value for money and no hidden fees.
We are proud to hold Lexcel and CQS Accreditations, issued by the Law Society. This involves the firm undergoing a rigorous audit process which ensures we maintain high levels of client care.
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 estimated fees are set out as:
Fee on redemption of each charge
Telegraphic Transfer Fee
Disbursements are costs related to your matter that are payable to third parties, such as search fees and Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Search Fees (Local Authority, Drainage and Water, Environmental) – estimated if required by the lender or
Search indemnity – estimated
Bankruptcy Search (per name)
Land Registry Pre Completion Search
Registration at HM Land Registry
This depends on the remortgage amount. You can calculate the amount you will need to pay by using HMLR's website.
If you are renting flat additional payments will be due to your landlord or managing agent.
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 is usually conducted by your new lender.
We do not charge or pay any referral fees i.e. some solicitors pay a referral fee to mortgage broker for your instructions and this is included in the fee you would pay.
A typical remortgage takes between 4 and 8 weeks, however it can be longer if there are any complications such as longer search turn around times, additional charges on the property or delays in receiving mortgage instructions from the lender.. The process may also take longer if you switch lenders compared with getting a new deal with your current mortgage company.
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
- Checking the mortgage offer
- Preparing for completion
- Requesting final redemption statement
- Requesting the mortgage advance
Jennifer Dodd - Associate Director and Head of Blackheath Conveyancing – over 25 years experience of residential conveyancing
Lili Jiang - Solicitor in residential and commercial conveyancing – three years qualified