Remortgaging your house
Switching to a new mortgage is a significant financial decision and there are several reasons why you might consider remortgaging your home. Whether you are remortgaging for the first time, or you have been through the process multiple times, we are here to provide the expert guidance you need.
While the remortgaging process can be stressful at times, our team of experienced remortgage solicitors are dedicated to providing a smooth and hassle-free experience to our clients across West Yorkshire.
Remortgaging solicitors in Brighouse
At Valerie Holmes Law, we are proud to have been supporting the community of Brighouse and its surrounding areas for many years. With our local insight and specialist expertise, we have been able to expand our property services across West Yorkshire.
Our friendly remortgage solicitors are committed to providing our clients with straightforward, clear legal advice to ensure a stress-free experience for you and your family.
Instructing a solicitor when remortgaging your house
If you are looking to switch to a new mortgage lender, you will most likely need to instruct a solicitor to carry out the legal work involved. Whereas, if you’re switching to a new mortgage deal under your current lender, there may be no legal paperwork required.
We recommend that you get in contact with us as soon as you are considering a remortgage. Our solicitors can offer you advice about the process before you start, which can be particularly useful if this is your first time undertaking a remortgage.
Get in touch today to speak to an experienced remortgage solicitor, and we’ll see how we can help.
How does it work?
Remortgaging is the process where someone switches their current mortgage deal to a new lender, which is called a full remortgage. Alternatively, it could be when a current mortgage moves to a different mortgage deal under their current lender, which is known as a product transfer.
There are a variety of reasons why someone might choose to remortgage. For example, you might choose to switch your mortgage deal to obtain more flexibility and better interest rates. Alternatively, you might want to release equity from your home, allowing you to conduct renovations, pay off debts, or help a family member to afford their first home.
The remortgaging process
Filling out your mortgage application
The mortgage application process can vary depending on whether you’re switching to a new mortgage deal with your current lender or moving to a new lender entirely.
If you’re staying with your current lender, they will already have most of your information on file. As a result, switching to a new deal with your current lender is usually quicker and involves less paperwork. In many cases, they may not need to carry out credit or affordability checks.
If you’re switching to a new lender, the process is slightly more complex. The new lender will typically request a range of documents that are to be submitted with your application. This can include:
How long does remortgaging take?
The length of the remortgaging process can vary depending on various factors, such as whether you are changing your mortgage lender, the complexity of your property, and the efficiency of all parties involved. At Valerie Holmes Law, the remortgaging process typically takes between 4 and 8 weeks.
We recommend that you gather the necessary documents in advance to prevent delays later down the line. For example, you can start by gathering your payslips and bank statements from the past three months and obtain proof of your address such as a utility bill or a council tax statement.
When you’re ready to get started
Once you have made the decision to pursue a remortgage, start gathering the documentation you’ll need throughout the process from the get-go. Staying organised from the beginning will save you from unnecessary stress and delays later down the line.
You should get in contact with us as soon as possible once you’re ready to get started. Our remortgage solicitors will guide you through the entire process with straightforward and clear legal advice. We can offer you valuable insight into the remortgaging process right from the start, ensuring a smooth and hassle-free experience.
If you’re considering remortgaging your home, get in touch with us today to speak to an experienced property lawyer.
Choosing Valerie Holmes
At Valerie Holmes Law, our solicitors are highly experienced in the process of remortgaging.
Here’s what we can offer you:
So you know how much your conveyancing will cost from start to finish.
Our Friendly team
A friendly team that responds quickly to calls and emails.
Proactivity
We will chase the other side and push for progress. No delays will ever come from our side.
Regular updates
So you always know what’s going on.