Re-mortgaging
A re-mortgage should be a very simple process. Once you have instructed us and you have notified your lender that we are to act for you, your lender will process your mortgage offer. Once the offer has been completed, the lender will send you your part of the mortgage offer and send this firm a Solicitors copy detailing their instructions.
In most cases, and if you are changing to a different lender, the lender will require us to carry out a Local Search. We are able to submit searches extremely quickly as we use an internet based system which advises us of the date on which the search will be returned.
Some lenders, however, allow us to take out “search indemnity insurance” which is an insurance policy which covers the lender against any adverse entries which could be revealed on a Local Search. This is a much cheaper option and we will always check with your lender to see if they will accept insurance rather than carrying out a Local Search.
Once the search result has been received/search insurance has been obtained, we will be able to report to you on your new mortgage offer and send you the appropriate mortgage deed for signature.
Once you have returned the mortgage deed to us, we will be able to order a redemption statement from your current lender for the date of completion and provide you with a completion statement.
On the date of completion, we will redeem your current mortgage and send any balance to you. We will then register the new charge over your property and once the Land Registry have completed the registration, we will supply you with a copy of the title deed for your information and send the original to your lender for retention.
Contact us now
Contact a member of the property team, for information or a quote, on 020 7339 6305/0207 339 6515 or email property@rjw.co.uk.