Re-Mortgaging Your Home
Avoid “Fee Free” Remortgage offers, you need a Solicitor who is on your side
When you need to remortgage your home your lender may offer you a “fee free” arrangement to avoid paying legal costs up front. Sounds great, doesn’t it? Well, there’s a catch. The Ssolicitor chosen by the lender will usually only act for the lender, and not you. It’s up to you to instruct your own solicitor, which many people don’t. That means no one is on your side, protecting your interests. When it comes to remortgaging your property you should be prudent and seek your own legal advice. A further point is that rather than being fee free, the fees are usually added to the debt that you have to repay along with interest on it. In the long term speaking to us could save you money.
There are many reasons why remortgaging your property is necessary. You may be looking for a better rate than your current deal. You may want to release some equity in your property. You might want to switch from an interest only to a capital repayment plan. Whichever the reason, you require just as much legal advice as you did when entering into the original mortgage. The financial and legal implications are just the same.
You have to feel confident that your legal advisors will be on your side, to protect you.
For over 30 years Boyd Rice Solicitors have been guiding clients through the remortgaging process throughout the Ards peninsula. Our experienced team will ensure that when you enter into a new contract with your lender you are legally protected.
How we Help you Remortgage your Property
- We will obtain the title deeds and review them to make sure no issues arise. You can rely on us to protect you.
- We will perform any necessary searches;
- Once we have your mortgage offer and the valuation of your property we will take time to discuss this with you. We can then prepare a report on title for your new lender. This will advise of any problems with the title deeds, or with any of the conditions of their mortgage offer;
- We will prepare your mortgage deed and any other documents your lender requires you to sign;
- Apply to your lender for your new mortgage funds. We can then set a completion date at this time;
- Write to your current lender advising them of the completion date and asking for a redemption statement to that date;
- Once completion has taken place we can lodge the necessary documentation with the Land Registry and following this we can then send your title documents to your new lender.
We appreciate that you live a busy life and remortgaging your home can be a stressful time. You can see from the above just how much goes into making sure the legalities of this transaction are attended to properly. You need the local firm that you can trust to be on your side.
As with all of our services, initial enquiries are completely free of charge. You will be under no obligation to instruct us and we will be delighted to advise in any way that we can. We will provide you at the outset with estimates of all our fees and charges. We are strongly of the opinion feel that transparency is important in developing a strong relationship with our clients.