September 05, 2024
Switalskis has further enhanced its residential conveyancing team with the promotion of Hannah Midgley and the appointment of Wendy Welburn.
Remortgage Solicitors
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.
To learn more about how we can help you remortgage, simply call us today on 0800 012 9085, or reach out through our website.
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:
We gather essential details from you over the phone and then send you the initial paperwork.
When we receive your signed instructions, completed forms and identification, we initiate your transaction.
If your property is registered, we download your title deeds from the Land Registry. For unregistered properties, we'll request the deeds from the current holder, typically a solicitor or your current mortgage lender.
We review the title deeds, taking note of any existing mortgages. For leasehold properties, we may need to engage with the landlord or managing agent to confirm that all service charges and rent are up to date.
We request an initial redemption statement from your existing lender to determine the outstanding mortgage amount.
Instead of conducting searches, which most new lenders don't need, we'll arrange for a policy of indemnity insurance. This covers the lender for losses arising from the absence of those searches. We'll let you know the cost once we obtain a draft of the policy.
After reviewing the mortgage offer from your new lender, we provide a report highlighting the essential points. If you're satisfied, you'll need to sign and return the mortgage deed.
We'll ask you for a preferred date to finalise the remortgage, usually 2-10 days in advance, as most mortgage lenders need some notice.
We conduct searches against the property and a bankruptcy search against you, on behalf of your new lender.
We request a final redemption statement from your existing lender and make sure funds from your new lender arrive on the agreed date. We'll then send you a completion statement detailing the financials.
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 012 9085 .
To learn more about how we can help you remortgage, simply call us today on 0800 012 9085, or reach out through our website.
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Considering remortgaging? It's important to get advice you can trust. At Switalskis, we offer clear, expert guidance to make the remortgaging process as smooth as possible for you.
The remortgaging process comes with its own set of complexities. We're here to explain and help you, answering your questions and guiding you through each stage. You'll be fully informed so you can make decisions with absolute assurance.
We recognise that remortgaging can be both a strategic financial move and a potentially stressful decision. We're here to listen to your specific circumstances, provide tailored advice, and relieve any concerns you may have. To us, you're not just another file; you're someone making an important financial move, and we're committed to making sure it's executed smoothly.
When it comes to remortgaging, you'll want to work with a team that combines experience with expertise. With Switalskis, you're in highly capable hands. Our track record demonstrates our effectiveness in helping you in successfully completing your remortgage transactions.
We're dedicated to making sure that you secure the best remortgage deal and that your interests are safeguarded throughout the process. Our commitment to transparency means you'll be consistently updated, so you're never in the dark.
For more information about our conveyancing services, or to get your quote for remortgaging, call us today on 0800 012 9085 or contact us through our website.