Remortgaging

Whether you’re wanting a better mortgage rate, renovating your home, or simply seeking a more secure financial future, having a solicitor by your side can make the process smoother and ensure everything is managed correctly.

Here’s how Laceys can help:

Navigating Legal Requirements: We handle the legal aspects of remortgaging, including ID checks and obtaining a redemption statement from your current lender to confirm the outstanding mortgage amount. This ensures you’re aware of any early repayment fees, providing peace of mind.

Changing Mortgage Providers: If you switch to a new mortgage provider, we manage the transfer of funds between lenders and update the title deeds at the Land Registry to reflect the new lender’s details, ensuring a smooth transition.

Adding or Removing Parties from the Mortgage: Adding or removing someone from your mortgage, called a ‘transfer of equity,’ involves changing the property’s ownership details. We amend the deeds and draft the necessary paperwork to specify the new ownership structure, making the process less stressful.

Conducting Remortgage Conveyancing Checks: New lenders often require conveyancing checks for potential property issues, which we can carry out on your behalf.

Reviewing and Advising on Your Remortgage Offer: We review the terms of your new mortgage offer and discuss them with you, ensuring you understand all conditions.

Preparing Financial Documentation: Before completion, we prepare a completion statement detailing the financial aspects of the transaction, ensuring transparency and accuracy.

Managing Funds and Settling Old Mortgages: Once your new mortgage is granted, we manage the funds, paying off the old mortgage. Any remaining balance will be transferred to you, making the financial transition seamless.

Updating the HM Land Registry: After completing the remortgage, we notify the Land Registry to update the title to your property, reflecting your new lender’s details. This final step ensures everything is legally recorded and provides reassurance.

Whether you are looking for better mortgage rates, freeing up equity, consolidating debt, or accommodating significant life events, remortgaging can provide valuable flexibility and financial benefits. For a smooth remortgaging process, contact one of our experienced conveyancing solicitors who can guide you through each step, ensuring your interests are well-protected.

Contact Kelly Howe at k.howe@laceyssolicitors.co.uk or call 01202 377869 to get started.