Mortgages and Remortgaging

Family Law

Mortgages

One of the first things you need to do when considering buying property is putting a mortgage agreement in place. Once a Mortgage Agreement has been agreed in principle, you are then able to start the conveyancing process and we can assist you thorough this process.

Remortgaging

Many clients are now changing their mortgage to fix their interest rate in case interest rates increase. We are happy to help you with this.

Remortgaging often helps people save money on repayments each month. This can be done by finding a mortgage deal with lower interest rates. People also want the option sometimes to extend or shorten their mortgage terms.

An experienced mortgage broker can help you in this process and by FSA Law has to provide you with the best products and deals on the market.

The Remortgaging Process

  1. Once we receive your new mortgage offer we will advise you on the terms of it to ensure that you are happy. Your mortgage company will also want us to ask you some questions, for example, have you added an extension to the property. This is so that we can satisfy the lender that the property has all the appropriate permissions etc.
  2. Your mortgage company may want us to carry out a local search; however this is rare in remortgage cases. It is more likely that we will need to arrange for an insurance policy with the new mortgage. This policy will protect your mortgage company, for example if we don’t do a search and it turns out that there is a problem that would have been revealed had carried out the search.
  3. We will also apply to your current mortgage company for an amount owing statement and then provide you with a statement showing a list of payments and receipts so that you can see what monies will be released to you, if any.
  4. You will then need to sign the new Mortgage Deed. This can either be in a face to face meeting or if it is easier for you we can send it to you.
  5. Once we have the signed mortgage we will ask you when you would like us to complete for you. We will need a few days’ notice so that we can request your mortgage money. Once we receive the money we will pay off your old mortgage and pay any balance due to you.
  6. We will then apply to the Land Registry to amend their records to take off the old mortgage and put on the new one.

We can help

Not only will we guide you through this process, doing all the hard work for you, we will also charge you a fixed fee so you can be reassured there will be no hidden costs at the end of it. For simple, straight forward advice contact our conveyancing team today.

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