Remortgage Conveyancing Solicitors
Remortgaging can allow you to save a significant amount of money by allowing you to move to a lower interest rate. Or, it can let you raise extra money to make improvements to your home.
There is a strict legal process you have to go through when remortgaging, however, to ensure that your interests are protected.
Contact our remortgage solicitors in Bristol and South Gloucestershire
Why choose Barcan+Kirby’s remortgage solicitors?
Our remortgage solicitors can help you with all aspects of remortgaging. We have decades of experience in managing remortgaging for a wide variety of clients and therefore have the expertise to ensure that you get the best deal without the risk of getting caught out by any unexpected issues.
We believe that effective communication is the key to a straightforward remortgage transaction. Our conveyancing solicitors’ aim to make it as easy and convenient as possible for you to stay in touch. We are happy to work face-to-face, by phone, email or even via video conferencing, meaning you can have your conveyancing carried out in a way that fits around your life and commitments.
Your case will be managed by a single, experienced conveyancing lawyer. They will oversee the entire remortgaging process and provide regular updates throughout. You will therefore always know who to go to with any questions and won’t have to worry about being passed between several different people during the process.
Our goal is to ensure you have complete confidence in the way we handle the conveyancing for your remortgage, while making our service as simple, cost-effective and reliable as possible.
Get in touch with our conveyancing solicitors for remortgaging in Bristol
Our remortgage services
Our highly experienced remortgage conveyancing solicitors can handle every aspect of the legal side of remortgaging for you. This includes:
- Requesting the title deeds and mortgage redemption statement from your current lender.
- Checking the terms of your new mortgage offer.
- Carrying out the required checks and searches, including bankruptcy searches. This ensures there are no unexpected issues and your remortgage can progress smoothly.
- Receiving the funds from your new lender and ensuring your current mortgage is paid off promptly.
- Amending your title deeds with the Land Registry to reflect the change of lender.
We can also provide more general advice and support on any aspects of residential property law you need assistance with, so please don’t hesitate to get in touch if you have an issue you need help with.
When you remortgage, you are effectively taking out an entirely new mortgage, with new terms and conditions, even if you stay with the same lender. This means you lender will want to carry out a valuation of your property and you will need to sign a new mortgage agreement. The new mortgage will then be used to pay off your old mortgage.
When you are considering remortgage, your solicitor can contact your current mortgage lender and request the title deed and a redemption statement. The redemption statement tells you exactly how much you will need to pay, including fees and interest, to repay your existing mortgage. You will need this before you can apply for a new mortgage so you and your new lender can see how much you need to pay off your previous mortgage.
When you have been offered a new mortgage, your solicitor will review the new mortgage agreement for you, making sure you fully understand all of the terms and conditions and that the new mortgage deal serves your best interests. Even when a mortgage seems cheaper due to having a lower interest rate, there are all sorts of other costs to consider that you need to be clear about.
A solicitor will also handle the transfer of funds for you, making sure the money from your new mortgage is paid promptly into your old mortgage account, ensuring no delays or potential difficulties with your previous lender.
Additionally, a solicitor can update the title deeds with the Land Registry with the details of your new lender.
In theory, you are perfectly entitled to remortgage a property you bought through Help to Buy. However, it is important to note that many lenders will be reluctant to let you do so until you have built up a certain level of equity in the property. You may also find that you are not able to access the best interest rate deals on a remortgage until you have built up a significant amount of equity.
This depends on a variety of factors, including your reasons for remortgaging and the interest rates currently available. The most common time to remortgage is when an introductory fixed-rate period ends and you are moved onto a standard variable rate. However, some lenders may not allow you to remortgage until a certain number of years into your mortgage, so it is important to check this before considering your options.
This entirely depends on the original mortgage deal that you signed with your lender. Some allow you to remortgage at any time, others may require you to stick with your existing deal for a certain number of years. However, in general you will usually need to wait at least 6 months after completion on a property before you can remortgage.
Contact our remortgage solicitors in Bristol for a free quote
For a free quote, complete our short form. Our charges are transparent and we outline all fees and disbursements up front, meaning that you’ll understand the full extent of your conveyancing charges from the very start.
Alternatively, you can call us on 0117 325 2929.