Remortgaging a Residential Property
When you pay off your mortgage on your existing property and take out a new one from another lender.
Examples why someone would remortgage their property:-
- Your existing mortgage deal is coming to an end.
- Switch from a fixed rate mortgage to an interest only mortgage.
- Just want to find a better deal than you are already on.
- You want to borrow more money.
- Separating from your partner
FAQs
What are the time scales for remortgaging my residential property?
A remortgage usually completes in 4-6 weeks but this can vary.
What are the typical stages of Remortgaging a Residential Property?
- We will take your instructions and provide initial advice to you
- Request Redemption Statement(s) from your Lender(s)
- Obtain and review Land Registry documents
- For Leasehold properties, we will check provisions contained in the lease
- We will review the mortgage offer and report our advice to you
- Request final redemption statement(s) from existing Lender(s)
- Request the mortgage advance from your new Lender
- Deal with Registration of the new mortgage
How much will it cost for Remortgaging a Residential Property?
To obtain costs information specific to your transaction, please call us and we can provide this instantly.
Why choose Light Legal?
Costs
We are clear on costs 100% of the time.
Dedicated
You will have direct access to a Legal Advisor throughout your matter.
Established
We have over 150 years’ experience in providing specialist legal advice representing individuals.
Flexibility
We are available for appointments at your home, at hospital or another location that’s convenient for you.
Hassle Free
Our Property Team can help you move quickly and without the hassle.
