Mortgage/Remortgage

The average mortgage / remortgage process takes between 6-10 weeks, however this could vary depending on a number of factors. It can be quicker or slower, depending on the mortgage company involved.  For example, if you have secured a mortgage offer prior to instructing us, it could take 6 weeks.  However, if you have not yet applied for your mortgage in principle, this can take significantly longer, between 8-10 weeks.

We strive to fast-track your transaction while providing guidance every step of the way through our expert team.

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Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees.  Disbursement costs are standard across all Solicitors.  We handle the payment of the disbursements on your behalf to ensure a smoother process.

STAGE 1 INSTRUCTION

Please return our paperwork to us as soon as possible so we have everything ready to move forward when your mortgage offer is received.

As part of the client sign up process and to meet our professional regulations, we are required to verify your identity. This is usually done very quickly and is straightforward however, if you have any questions about this please call us.

We will require details of any existing mortgage that you have in relation to the property.  We will arrange to obtain an amount owing statement from your lender as well as the deeds to your property, if these are held by your lender.

STAGE 2: REVIEW TITLE

We will review the title deeds relating to the property.

We will arrange to submit searches on the property if required by your lender or arrange an indemnity policy if searches are not required.

We may obtain copies of any documents relating to any work carried out to the property from you.

STAGE 3: MORTGAGE OFFER

We will review your mortgage offer and report to you on the terms and arrange for you to sign the necessary documents.

STAGE 4: COMPLETION

We will arrange for your new lender to send us mortgage funds and redeem any existing mortgage.  Any surplus funds will be sent to you on completion.  We will also send you the final completion statement, for your records.

Following completion, we will submit our application to HM Land Registry to register your new mortgage on the title deeds.  Once our application is complete, we will send you an up to date copy of the title deeds.

A mortgage is where you take out a new mortgage (borrow money) on a property you already own. It is called a remortgage if you are replacing your existing mortgage.

As we approach retirement, individuals often look for ways to get their hands on accumulated wealth and assets. Equity release is one way to do this.

Equity release is a way of accessing some of the money tied up in your home without having to move. It provides you with a source of funds to support your retirement plans or other financial commitments.