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Our remortgage services
Remortgaging your property is a significant financial decision, and having the right legal support is essential to ensure a smooth and hassle-free process. At Samra Legal Ltd, our expert conveyancing solicitors in Warwick specialise in remortgage transactions, providing you with tailored guidance every step of the way.
Whether you’re looking to switch lenders, release equity, or secure a better deal, we are here to handle the legal complexities and protect your interests.
What is remortgaging?
Remortgaging involves replacing your current mortgage with a new one. This could be with the same lender or a different one. Common reasons to remortgage include:
• Securing a better interest rate.
• Releasing equity for home improvements or other needs.
• Consolidating debts.
• Adjusting the terms of your current mortgage.
No matter your reason, our team ensures the process is quick, secure, and legally compliant.
Why do you need a solicitor for remortgaging?
Even though remortgaging may seem straightforward, it involves important legal steps that require professional assistance. Our solicitors will:
• Review your mortgage offer to ensure terms are fair and legally sound.
• Check your property title for any restrictions or issues that could delay the process.
• Liaise with your current and new lenders to facilitate the transfer of funds.
• Register the updated mortgage details with the Land Registry.
Having a solicitor ensures that all legal requirements are met and that your interests are safeguarded throughout the process.
The process or remortgaging a property
Initial Review
Once you provide us with your remortgage details, we’ll begin by reviewing your current mortgage and new lender’s offer. We’ll ensure there are no hidden terms or clauses that could impact you in the future.
Title Check and Searches
We will review your property title to confirm ownership and identify any potential issues, such as restrictions or charges that need to be resolved. If required, we’ll also carry out searches to satisfy your new lender’s requirements.
Liaising with Lenders
Our team will coordinate with your existing lender to obtain a redemption statement (the outstanding balance on your current mortgage). We’ll also work with your new lender to ensure a seamless transfer of funds.
Completion
Once everything is in place, we’ll complete the remortgage process by paying off your existing mortgage with the new loan. We’ll also update the Land Registry to reflect your new lender’s interest in the property.
Important Note:
The steps outlined above represent the standard remortgage process. However, each transaction is unique, and the process may vary due to factors such as legal complexities, lender-specific requirements, or third-party delays. Rest assured, our team will keep you informed of any changes and provide clear guidance at every stage to ensure a smooth and transparent experience.
Take the stress out of remortgaging your residential property with Samra Legal!
We are here to ease the process
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Frequently asked questions
The process typically takes 2-4 weeks but may vary depending on factors like lender requirements or title issues.
In most cases, lenders may require limited or no searches. However, some lenders request specific searches depending on the property or its history.
Yes, but leasehold properties often require additional checks, such as confirming ground rent and service charge payments are up to date.
We’ll proactively follow up with your lender to minimise delays and keep you informed throughout the process.
Stamp Duty is not typically required for a remortgage unless there’s a transfer of equity or another unique circumstance.
