The process of remortgaging may seem complicated with various legal and financial elements, but it need not be overwhelming. Whether you aim to reduce monthly payments, secure a favourable interest rate, or release equity from your home, our team is here to offer reliable advice and effective solutions. With Switalskis by your side, you can embark on your remortgaging journey with confidence.
When you first reach out to us, we'll discuss your requirements with regard to your remortgage and your specific circumstances and then send you a quote. We'll walk you through the remortgage process so you'll know precisely what lies ahead and what actions you'll need to take.
Our role is to help at every step, explaining any complex legal jargon and managing the needed documentation on your behalf. We take on the responsibility of the legal tasks, freeing you to concentrate on your broader financial plans. We know that each remortgaging case is different, and we customise our advice to suit your individual situation.
Navigating a remortgage can be a straightforward experience, typically completing within four to six weeks. Here's how the process works at Switalskis:
Once the funds arrive from your new lender, we use these to pay off your existing lender and remove them from the title deeds. After deducting our legal fees and disbursements, we transfer the remaining funds to you.
After completion, we file an application with the Land Registry to update the deeds, swapping your original lender for your new one. Once they've confirmed the change, we'll send you a copy of your new title deeds for safekeeping.
At Switalskis, we focus on the legal aspects of the remortgaging process and do not carry out property valuations ourselves. Property valuations are generally conducted by a certified surveyor who is either appointed by your new mortgage lender or, in some instances, chosen by you.
The purpose of this valuation is as follows:
It's worth mentioning that while the lender's surveyor will carry out a basic valuation, you may want to consider having a more detailed survey done, especially if you've had concerns about the property's condition. This is not a requirement for remortgaging but could provide peace of mind.
Once the valuation is complete, the surveyor will send a report to the lender, who will then review it to finalise your mortgage offer. If the valuation brings up issues, such as necessary repairs, these might need to be addressed before proceeding with the remortgage.
When it comes to remortgaging, searches are generally not as critical as they are in a first-time property purchase. However, the necessity of conducting searches largely depends on your new lender's requirements and your own risk appetite. Below are key points to consider:
Our team stands ready to provide you with a no-obligation quote for our remortgage legal services. While there's no obligation to proceed with us, we're confident that our approach will make a strong impression. To get your personalised quote tailored to your remortgaging needs, don't hesitate to give us a ring today on 0800 138 0458 .