A remortgage is the process of switching your existing mortgage to a new deal with a new lender and using the same property as security for the mortgage. For instance, you may decide to remortgage your home to get a better deal on your interest rate, or to release equity from your property.

The steps we take when acting for you on your remortgage include:

• Taking instructions from you including all names and addresses and property information
• Sending you a Client Care Letter and transaction questionnaire for completion and return, together with your ID documents. Once received we will undertake ID checks to satisfy UK Anti Money Laundering Legislations.
• Obtaining the title information from the Land Registry for your property. If the deeds for your property are unregistered we will need the original deeds from you before we are able to proceed.
• Obtaining from your current lender the amount that is required to redeem your current mortgage
• Reviewing the offer from your new mortgage lender and reporting to you on this
• Arranging for you to sign your new mortgage deed
• Agreeing a completion date for your remortgage and requesting the funds from your new mortgage lender for this date

On the completion date we will receive the funds from your new mortgage lender and then redeem your existing mortgage and account to you for any surplus.

Following completion, we will make an application to the Land Registry to update the mortgage information on the register of your property and report to you with updated copies once this is complete.

In some circumstances, along with a remortgage you may wish to transfer the ownership of the property by way of a Transfer of Equity. This may involve taking one name off the register, for example following a relationship breakdown, or adding another name on and it is quite common for this to take place at the same time as a remortgage.

Our team is able to assist with all aspects of a Transfer of Equity and remortgage.