Remortgage Solicitors, Remortgage Property, Conveyancing Solicitor

Re-mortgaging your property is a popular route. There can be a number of reasons why people choose to re-mortgage, one of which is that in a competitive mortgage market, you may have seen a lower rate of interest or better deal that can reduce your monthly payments. Many people choose to re-mortgage because they wish to switch their mortgage type, perhaps from an endowment mortgage to a straight repayment mortgage. Alternatively, you may wish to borrow more on your current mortgage to pay for home improvements or for some other purpose. Borrowing money in this way can be one of the least expensive ways of raising finance.

Whatever the purpose of your re-mortgage, Adams is here to help. We will guide you through each stage of the process from the initial decision, through to the completion date and pride ourselves on our highly professional, effective and friendly approach. If you would like further information including a quote please contact a member of our conveyancing team. Simply complete our enquiry form or call us on 020 7790 2000. We are happy to give you initial advice to help you understand the implications, the procedure and the best course of action – and depending on the case, the first consultation is often free.

There are a number of factors to bear in mind before you go ahead. One of these is whether your mortgage has an early redemption penalty, in which case you need to take this into account when making your calculations. Once you are ready to go ahead, we will start work.

One	We write to your present lender and ask them for a Mortgage Redemption Statement and the Title Deeds. We also send off your Local Authority Search and any other necessary searches. During this time, you should have made your application for the new mortgage. Usually you will be asked to supply a reference from an employer, past wage slips and evidence of who you are. Your solicitor is not normally involved in this part of the process.
Two:	Once your mortgage application has been finalised, a Mortgage Offer will be issued. We should have your Title Deeds and searches at this point, and can advise you and the lender of any problems with the search results. We will also check whether there are any life policies with the Deeds.
Three	We will arrange a completion date and the Mortgage Deed will be sent to your for signature and return. We will ask your current lender for an updated Mortgage Redemption Statement so that we have the exact figure owing to your existing lender.
Four	On completion day, once we have received the money from your new lender, we will send you the amount owing to your existing lender to pay off the mortgage, and any balance due will be sent on to you.
Five	We will send the mortgage deed through the Land Registry so that they can amend and update their records. Once done, they will send the Title Deeds back to us and we will send these on to the new lender.