Your Remortgage – guiding you through the process.
Confused about how a remortgage works? We know moving to a new mortgage lender can be a daunting prospect, especially if you’ve not done it for a while or in fact ever! We understand that and want to help reassure you that it needn’t be as scary or as complicated as you may think. To help, here is a summary of the key stages to your transaction with us:
Your new mortgage lender
Once you have chosen your new mortgage lender and they instruct us to act in the legal bits of the remortgage – we’ll open a file on our systems and start our checks on your property with the Land Registry. In most circumstances these checks will be completed the day we receive the instruction and we’ll be in touch with you then – explaining the process and sending key documents to you.
Case Tracker
Much of what we do with you can be completed online via our secure Case Tracker and many of our customers choose this option as most convenient to them. Of course you may wish to receive good old fashioned paperwork and telephone us – that’s ok too.
Once we’ve received those key documents back from you, an offer from your new lender and found out from any existing mortgage lender what amount is outstanding with them, we can start to plan a remortgage completion date for you. This will always be as soon as we can or to meet a day requested by you.
Completion
On the completion date, funds will come from your new mortgage lender and we’ll use them to pay off your old mortgage and send anything left over to you. We’ll then register your new mortgage with the Land Registry.
Sounds simple doesn’t it? It most circumstances, it really is. If, however, we believe your remortgage is going to take a little longer or is a little more complicated, we’ll be in touch and keep you updated.
If you have any questions about our remortgage process, please contact us for some further guidance.
