Remortgage Conveyancing Solicitors

There are a number of benefits to remortgaging. Whatever your reason for considering a remortgage, our specialist team can provide comprehensive support, enabling you to make an informed decision and ensuring you can complete the process as efficiently as possible.

At Johnson Astills, our Property Team have considerable expertise in handling remortgages and can work alongside you to advise you on the best approach for your individual circumstances.

To speak to a member of our team remortgaging, please contact our local offices in Leicester and Loughborough or use our contact form to request a call back.

Want to see how much your remortgage might cost? Request a tailored remortgage quote.

Why choose our remortgaging solicitors in Leicester and Loughborough?

We understand how important it is to secure the best possible deal for your mortgage. Our aim is to make sure that, if you are considering remortgaging, you have all the information you need and are able to complete the remortgage as efficiently as possible.

When you work with our team, we will always provide clear communication and keep you informed whenever there are any updates to your case. If you have any questions about the remortgage process or the way your transaction is progressing, we will always be available to offer the answers you need.

We are able to provide fixed-fee services with clear and transparent pricing regarding your remortgages. If there are any further developments during your transaction that could result in an additional cost, we will let you know as soon as possible so we can discuss the options available to you.

You can find out more about our conveyancing fees for freehold transactions by taking a closer look at our tailored remortgage pricing guide, or you can request a tailored quote.

We are Lexcel accredited by the Law Society for the high standards of our legal practices and are independently regulated by the Solicitors Regulation Authority (SRA). Additionally, we are proud members of The Law Society’s Conveyancing Quality Scheme (CQS), reflecting our extensive expertise with a wide range of property matters and transactions, including remortgaging.

Our remortgaging expertise

Reviewing your current mortgage and potential options

Remortgaging can seem like an overwhelming prospect, especially if you have no previous experience with how the process works. Our team can work with you to put your mind at ease, carefully review the details of your current mortgage, and ensure that the change of mortgage to your new mortgage product is carried out seamlessly. 

From here, we can also explain how the process will work and proceed to take the first steps to arranging your remortgage.

Remortgaging your home

If you plan to remortgage your home, our solicitors can handle all of the legal formalities on your behalf, including all of the essential due diligence work for your new lender and all of the relevant paperwork required for completion. This also includes obtaining a redemption statement so that your existing mortgage is repaid simultaneously with your new mortgage being secured on your property

We can also support you with any additional searches that need to be carried out before the completion of a remortgage, such as bankruptcy searches, or property searches should you new lender insist on these being put in place.

Buy to let remortgage

If you are planning to remortgage a buy-to-let property, there will be various other considerations to make. Our remortgage solicitors will provide your lender with all of the information they require and ensure any special conditions of your new buy to let mortgage are complied with.

In many cases, lenders are likely to need more information than for a normal residential remortgage, such as evidence of minimum EPC rating for the property.

Remortgage and transfer of equity

If you are transferring the equity in your property (i.e. changing the property ownership), you will have to apply for a remortgage or obtain the consent from your existing mortgage lender to the change in property ownership. This is because the equity of the property will be affected by the new ownership arrangement and your mortgage provider will need to account for this.

We can advise you in relation to remortgages and transfer of equity, making sure that you are aware of the implications of adjusting your mortgage and what this will mean moving forward.

Frequently asked questions about remortgaging

What is remortgaging?

It is highly likely that if you own your home, you will have a mortgage to cover a portion of the purchase price. Remortgaging is the process of replacing your existing mortgage with a new one.

This could involve renegotiating with your existing mortgage lender or changing the mortgage of your property to a new lender.

When should you remortgage?

Common reasons for wanting to remortgage include where:

• Your current mortgage is due to run out
• You are looking to secure a better interest rate
• You want to raise money for home improvements
• You want to raise a cash lump sum by releasing equity from your home
• You want more flexibility in how you pay your mortgage
• You want to switch between a fixed or variable-rate mortgage
• You have had a change in your personal circumstances
• You want to consolidate your debts

How long does a remortgage take?

The time it takes to complete a remortgage will depend on the particulars of your case and how long your lender takes to deal with your application.

If there are no unexpected delays and your lender responds to the application in a timely manner, you can usually expect your remortgage to take on average a couple of months to complete. 

How much does it cost to remortgage?

The costs involved in remortgaging may vary. Our remortgaging solicitors work on a fixed fee basis, which means that you will always know exactly how much your remortgage is going to cost from the outset.

More information regarding how much it may cost to remortgage and how our fees work can be found on our pricing page.

What happens when you remortgage?

After going through all of the stages involved in remortgaging, you will often find that the final steps are very familiar. A completion date will be set for your new mortgage to start and your old mortgage to be repaid. Your lender will then provide you with a date and amount for your first new remortgage payment.

Your solicitor will also register the new mortgage on the title deeds to the property at land registry. 

Do you need a solicitor for a remortgage?

If you are moving to a new lender for your remortgage, you will need to work with a solicitor. Your new lender will need due diligence to be carried out on the property to make sure that it will be good security for the loan.

Get in touch with our remortgage solicitors in Leicester and Loughborough

For help and advice on remortgaging or any other property matter, get in touch with our remortgage solicitors by contacting our local offices in Leicester and Loughborough, or feel free to use our contact form to request a call back.