Remortgaging a property is the process of repaying a mortgage using finance from another mortgage lender which is then secured on the property you own.
Remortgages are used for various reasons from securing a more favourable interest rate to obtaining additional funds.
The timing of a remortgage is important as you may be liable to pay early repayment charges with your current mortgage provider and you should always clarify this with your current lender before proceeding. Your legal advisor will be able to guide you through the process and will make you aware of any fees you will be liable for.
Please note that in some circumstances your Lender will not require the 'pre-exchange' searches, although we will need to arrange an indemnity policy to protect your lender. Obviously, if we can follow this route it will save you time and money.
To find out more or discuss your individual requirements in further detail, our Conveyancing experts will be delighted to help. Contact us today on 01603 693500 or email us using the 'Make an enquiry' form.