Re-mortgaging your property is a big deal, and if your existing mortgage product is coming to an end in the near future, it is certainly time to consider your options and factor in the circumstances. Though it isn’t immediately necessary to go down the legal route and receive that specific and up-to-date support, solicitors are best-placed to look over your situation, find the very best deals, and in an ideal world - save you money and stress of exploring the market. Within this handy blog post, let PJE Solicitors guide you through everything from the process itself, to different options, terms and pitfalls you can avoid.
A relevant step to take once the terms of your existing product have begun to wind down, remortgaging may be cheaper in the long-term because you will have immediate access to the whole of the market, with a better chance of securing a lower interest rate and other potential benefits within other mortgage deals. Once you and your remortgage solicitor are happy with everything, you can sign the new mortgage deal, though this process is rarely as black and white as it may seem. While remortgaging is not as complex as buying a house, there are still legal processes that must be followed when transferring a loan to another lender.
Specialists from PJE Solicitors are able to wade through the jargon of any possible mortgage deals, displaying the facts as they exist, and guiding you through legalities without hesitation. On the face of it, most lenders will include a free legal package in their remortgage deals as standard, which means their chosen conveyancing solicitor will cover the legal requirements. You should still check that this is actually free though! If your chosen lender’s legal package isn’t free, ask if you’re able to shop around, and if viable, you can then get a solicitor involved.
Often able to arrange and specify a relevant survey to correspond with the remortgage, a solicitor can seamlessly make the transfer from one lender to another. Let’s just say you’re with Santander and you’re remortgaging to HSBC for example, your solicitor will take care of that transition to make sure that the deeds and the mortgage are set out correctly with the new lender, also able to oversee aspects such as land searches too.
At PJE Solicitors, we’re delighted to offer expert legal advice for clients in and around Cardiff and Pontypridd. If you’re based in these areas and searching for a local re-mortgaging solicitor, get in touch today! We work hard to give the best advice for the best outcome possible, prioritising your care so you know you’re in safe hands. Contact for support.