Once you have agreed to remortgage your property, we will need to obtain the title to the property and carry out any searches required by your new mortgage lender. In some cases the lender will accept a policy of insurance instead of searches being carried out. We will advise you if this is the case.
A surveyor may also be appointed by your new lender to carry out a valuation on your property depending upon the amount you propose to remortgage for.
We will then need to approve the title to your property on behalf of the lender and deal with any queries at that time.
Once a formal offer of mortgage has been issued you will need to sign a mortgage deed and a completion date will then be arranged. On completion, any existing mortgages you have against the property will need to be paid off by the new mortgage funds. Before completion we will contact your current lender for an up to date redemption statement for the mortgage. We will advise you if there are any penalty charges on the mortgage.
Following completion we will arrange to have the old mortgage deleted from your title deeds and the new mortgage registered.