When you are ready to remortgage you want it to take place quickly, efficiently and calmly. MCP Solicitors has an experienced team of Property lawyers meaning that your remortgage should go as smoothly as possible.
Why would I remortgage?
The main reasons to remortgage would be to have a new mortgage with a better rate of interest or to release some of the equity in your property.
How long does remortgaging take?
This depends on the requirements of the new mortgage lender and how quickly they conduct the valuation and issue the remortgage offer. However, it should take somewhere between three and six weeks.
What happens when I remortgage?
You should pass your solicitor's details to the mortgage lender. The mortgage lender will instruct the valuation/survey to be carried out and then issue the mortgage offer to your solicitor. You can discuss the search requirements with your solicitor.
Your solicitor will then obtain details of the amount outstanding on your existing mortgage and repay this on your behalf. Any money left over will be sent to you following payment of fees.
If you need help or advice with remortgaging a property please contact our team of Property Lawyers now.