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Atkins Dellow > Residential Conveyancing > Re-mortgaging

Expert Residential Conveyancing Solicitors in Re-mortgaging

Experience is key with it comes to setting up re-mortgages, luckily that’s what our expert Residential Conveyancing Solicitors offer. Our experts can help you through the process to completion.

For information about your specific situation get in touch with our team today on 0330 912 8338.

Re-mortgaging a property requires a number of steps to be taken.

Careful attention to lenders’ requirements and mortgage offer conditions require a keen eye and can be easily glossed over when trying to speed up the process of a re-mortgage. Our team can handle the entire process of getting a re-mortgaging a property on your behalf.

Help is at hand with our skilled Residential Conveyancing team to safeguard your investment. Call us now to ensure a secure and seamless process from start to finish.

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Call 0330 912 8338 for a no-obligation chat with one our experts today.

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What Re-mortgaging Services do we provide?

We provide a range of services surrounding re-mortgaging your property. These services include:

  • Legal support and representation for the re-mortgaging process, ensuring all legal requirements are met and protecting your interests throughout the transaction;
  • Reviewing and reporting on the conditions of your offer,
  • Reporting on title to your lender,
  • Carrying out necessary searches,
  • Completing and registering your mortgage.

Re-mortgaging FAQs

What is re-mortgaging?

Re-mortgaging is the process of redeeming your existing mortgage and completing a new mortgage to a new lender.

Why choose to re-mortgage?

People re-mortgage for various reasons, including obtaining a better interest rate, accessing equity in their property, consolidating debts, or changing the terms of their mortgage to better suit their financial situation.

When is the right time to consider re-mortgaging?

It’s advisable to review your mortgage regularly, especially when interest rates change or your financial circumstances evolve. However, the specific timing will depend on your individual needs and market conditions.

Can I re-mortgage if I have bad credit?

Having bad credit may limit your options, but it doesn’t necessarily mean you can’t re-mortgage. Some lenders specialize in offering re-mortgage products to individuals with adverse credit, although the terms may be less favourable.

Will I have to pay fees when re-mortgaging?

Re-mortgaging typically involves fees such as arrangement fees, valuation fees, legal fees, and potentially early repayment charges. It’s essential to consider these costs when evaluating the financial benefits of re-mortgaging.

How long does the re-mortgaging process take?

The duration of the re-mortgaging process can vary depending on several factors, including the complexity of your case, the lender’s processing times, and the efficiency of your solicitor. As a very broad guide, on average, it may take between 4 to 8 weeks.

Can I switch to a different type of mortgage when re-mortgaging?

Yes, re-mortgaging provides an opportunity to switch to a different type of mortgage, such as changing from a variable rate to a fixed rate or vice versa. However, eligibility for different mortgage types will depend on your circumstances and the lender’s criteria.

Will I need a solicitor when re-mortgaging?

Lenders will usually instruct a solicitor and it is highly recommended to seek the assistance of a solicitor or conveyancer when re-mortgaging. They will handle the legal aspects and ensure the process runs smoothly.

Can I re-mortgage if I'm self-employed?

Yes, self-employed individuals can re-mortgage. However, the application process may require additional documentation to demonstrate your income stability and affordability.

What happens to my existing mortgage when re-mortgaging?

When you re-mortgage, the funds from the new mortgage will be used to pay off your existing mortgage. This process is known as redemption. It’s crucial to coordinate the timing to avoid any penalties or interest charges.

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