People sometimes think our conveyancing solicitors in Portsmouth are involved solely in the process of buying and selling houses. At Andrew & Andrew, we can also help you remortgage your home.

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.

You will need conveyancing solicitors in Portsmouth when you are remortgaging your home, together with acting for your mortgage lender. Here is a short explainer.

What is remortgaging – and why might I do it?

Remortgaging means moving your mortgage to a new lender while staying in the same home or property. If you have never done it before, it can seem daunting – but do not worry, it is a straightforward process when you have the right support.

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.

Mortgage lenders will require extra information, knowledge around any change in your circumstances and further financial affordability testing. We can offer support around all of this thanks to our extensive experience.

With so much to consider, remortgaging is not always a simple process when going alone. That is why using conveyancing solicitors in Portsmouth can help cut through the confusion.

The process

Firstly, you will 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 inform us on 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.

Next, we will send you the mortgage deed to sign, along with the redemption statement for your current mortgage. We will agree on a completion date with you around this time. 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 to you. We will register the new mortgage with the Land Registry, and then send you the title deeds.

Now, you are remortgaged.

Thinking about remortgaging

Andrew & Andrew Solicitors provide timely, resourceful and cost-effective legal solutions for all your conveyancing needs, including when you are considering remortgaging.

Our team meticulously handle every legal aspect of your remortgage, leaving you to focus on the rest of your life without extra stress.

We are here to help, whenever you are ready. To get started, please talk to our team.

Andrew & Andrew Solicitors proudly serve clients across Hampshire from our Portsmouth, Emsworth, and Wickham offices.