Re-mortgaging a Property

Re-mortgaging your property can be a confusing time especially if is the first time you have had to do it.

There are 3 steps that we have to go through and they are explained below.

Step 1 - First Steps

Upon instruction we will request your title deeds from your existing lender and also request a redemption statement. The redeption statement is to find out how much is still owed on your existing mortgage, and any other loans you might be paying off.

We shall then wait for your mortgage offer and check the title documentation.

Step 2 - Offer Recieved

Depending on the lender we might have to carry out searches against the property. If there any special instructions from the lender we shall follow these through

Step 3 - Completion

Once the documentation has been returned we can arrange the complention. This normally takes a week.

On completion day we will pay off your existing mortgage and any other loans, take out legal fees and disbursements out and forward any remaining money to you.

Then we shall arrange to register the new mortgage at the Land Registry . Once the title is registered we will supply a copy to you and send the original document to your lender.