If you are an existing private landlord, or considering entering the buy-to-let market, the new Bill running through Parliament may give you cause for thought. Certainly you may wish to consider a fresh approach to letting in order to minimise problems in...
Remortgaging your home can offer a range of benefits, including moving to a better deal, securing new terms and borrowing more money for home improvements. If you are releasing equity this could be for a more comfortable retirement without having to move home.
Unless you are staying with your existing lender, you will need to use a solicitor to deal with your remortgage.
At Kingsfords, our remortgage and equity release solicitors in Ashford, Cranbrook and Hythe can represent you in the process, working proactively to move to your new mortgage as quickly as possible. Our property team are highly experienced and able to deal with difficulties that may arise promptly and effectively.
We know that it is often important to secure a new deal without delay and we always do all we can to meet deadlines. We will keep you updated throughout and make sure that we are available to answer your questions as needed.
We are on the panel of approved solicitors of all major lenders and hold the Law Society’s Conveyancing Quality Scheme accreditation in recognition of our high standards in dealing with property transactions.
Our remortgage services include the following:
- Checking the legal title to your property
- Establishing how much is owed on your existing mortgage
- Due diligence work for your new lender
- Advising you on the terms of your new mortgage
- Dealing with the transfer of your property if necessary
- Liaising with you regarding completion of your remortgage
Speak to our remortgage solicitors in Kent today
Speak to one of our remortgage solicitors at our offices in Ashford, Cranbrook or Hythe today by calling 01233 624545. We deal with remortgages in Kent and beyond.
Alternatively, please fill in our enquiry form on the right hand side of the page to request a call back.
Our remortgage expertise
Checking the legal title to your property
Your new lender will require us to check that the legal title to your property is acceptable to them and to inspect other related title documents. We will obtain your title deeds from your existing lender so that we can carry out the necessary work.
Establishing how much is owed on your existing mortgage
We will also ask your lender for an initial redemption statement. This will give you some idea of the amount that will be needed to redeem your mortgage and you will be able to see whether any extra items have been included, such as your lender’s administration fee or a penalty for early redemption.
Due diligence work
Your new lender will also need to us check other property information, such as rights exercised over your property and compliance with planning consents. We will provide you with a property information form to complete and work with you to answer any questions the lender may have.
They may require us to carry out searches, but more commonly they will be happy with search indemnity insurance, which we can arrange. This avoids the need to wait for local search results.
Advising you on the terms of your new mortgage or equity release
Once your new mortgage offer has been received, we will check that you are happy with the terms and conditions. If you have any questions, we can discuss these, and once you are happy to proceed, we will let you have the mortgage deed for signature in readiness for completion. If you are releasing equity on a life time mortgage it will also be essential that you meet with us so we can be sure you are fully aware of the process.
Dealing with the transfer of your property if necessary
A remortgage is sometimes tied in with the transfer of a property. This could be from joint names into your sole name or from your sole name into joint names. We will advise you of your rights and make sure that you under the implications of the transfer.
If your property is being transferred from joint names to your sole name, we will liaise with your co-owner’s solicitor where necessary. We will draft the transfer document and let them have this for signature prior to completion.
Liaising with you regarding completion of your remortgage
Once we have all of the necessary property information together with your mortgage offer, we will be ready to complete. We will liaise with you as to dates, as well as with your co-owner’s solicitor where necessary.
We will order your mortgage advance for the agreed date and ask your existing lender to provide a redemption statement calculated to that day. We will prepare a completion statement showing the amount you will need to let us have in cleared funds for completion or alternatively the amount that will be payable to you.
There are final searches to be carried out, namely a bankruptcy search against your name and a search to check that nothing new has been registered against the legal title to your property.
We will then be ready to complete.