People often think conveyancing solicitors in Portsmouth are involved solely in the process of buying and selling houses, but here at Andrew & Andrew, we can also help you remortgage your home.
You may choose to remortgage your home in order to take advantage of lower interest rates, or raise some capital to use on something else. Either way, speed is often of the essence when it comes to remortgaging your home.
That said, remortgaging is not always a simple process and using conveyancing solicitors in Portsmouth can help cut through the confusion.
You will need conveyancing solicitors in Portsmouth when you are remortgaging your home, together with acting for your mortgage lender.
Andrew & Andrew is a member of the Law Society’s Conveyancing Quality Scheme (CQS), which means that we are recognised for the reliable and professional service we provide to our conveyancing clients.
Remortgaging means carrying out any official searches required by your lender. We will use our vast experience in this field to also tell you in advance about any other requirements your mortgage lender has.
Here’s how the process works:
Firstly, you tell us that you want to remortgage your home. We then ask your current lender for the title deeds, along with a redemption statement. This will tell you how much you still owe the lender on the mortgage and any other loans you are paying off.
Once we receive your new mortgage offer, we can check the title documents.
Once the offer is received, we then check any special conditions, which is when we may need to carry out some searches.
When that is done, we will send you the mortgage deed to sign, along with the redemption statement for your current mortgage. That done, we can agree a completion date with you.
We can complete when you return the signed mortgage to us, along with any money to pay off the balance.
Completion day is when we pay off the existing balance of your mortgage, settle the legal fees and disbursement and forward the remaining monies onto you.
We will register the new mortgage with the Land Registry, and then send you the title deeds.