Remortgaging has become a popular option for home owners, able to benefit from historically low rates of borrowing. Remortgaging also provides a way to release equity in a property.
Clients for whom we may have acted for on a purchase 3-5 years ago are typically coming back requesting us to carry out necessary remortgage legal work. However, we would be pleased to assist anyone who is remortgaging their property.
Please be aware that remortgaging a property from a lender’s point of view is like the first time you actually bought the property. They will therefore require a valuation of the property to be carried out. You will be required to pay for the cost of the valuation although some lenders will make this free to you as an incentive to proceed with the mortgage. Ideally, you should speak to an independent financial adviser when remortgaging as they may be able to secure such benefits for you and advise whether they are worthwhile in the overall context of the mortgage offer.
You should also be aware that a lender will require new searches to be carried out on the property and you will have to pay for the cost of this.
We at TWM Solicitors are highly qualified to assist you with remortgaging.
Please complete the form below and we will be able to provide you with a quote.