Remortgage your property with Slee Blackwell Solicitors of Devon and Somerset.
Remortgaging is the legal process of moving your existing mortgage to a new lender, usually in order to receive a better rate of interest or to release equity.
You may wish to take out a new mortgage on the property you own to fund home improvements or another project. Some other common reasons for remortgaging include:
- to get a better mortgage rate in order to reduce monthly outgoings
- to consolidate debt, such as outstanding credit card balances
- to meet home improvement costs, such as a new extension
- to finance a business loan
Whatever your reason for remortgaging, Slee Blackwell Solicitors can offer you a speedy, efficient and cost effective remortgage service for you, to ensure that whatever your reason for the remortgage there will be no legal delays.
Remortgaging involves repaying the existing mortgage from the funds being provided by the new lender. The old lender’s details are then removed from the property register at the Land Registry, and replaced by the details of the new lender.
When deciding that you wish to remortgage your property, you should take into account the potential expenses that you may incur, and it would be worth you considering these when arranging the loan amount through your financial advisor so that these can be added to your new loan: These expenses may include:
- Legal Fees
- Valuation Fees
- Arrangement Fees
- Deed Release Fees
- Land Registry Fees
- Telegraphic Transfer Fees
- Early Redemption Penalties
- Mortgage Indemnity Guarantee