Remortgaging is a big decision to take, but one that can pay dividends in the long run. People often consider taking this route in order to get a better mortgage rate – and in the current uncertain economic climate, this is a popular move for those looking to boost their finances however they can.

What is a remortgage?

Remortgaging is when you pay off one lender and draw down a mortgage with a new lender. However, the process can be a little confusing, so it is important you consult the experts in order to get the best deal possible. By speaking to those with the right knowledge and expertise, you can ensure the process is straightforward and easy to understand.

How long will my re-mortgage take?

How long it will take from you obtaining a new mortgage offer until the re-mortgage completes will depend on a number of factors. The average process takes between 4 – 6 weeks.

It can be quicker or slower, depending on how quickly we obtain copies of your new mortgage offer and redemption figures for your existing mortgage and whether or not there are any title issues.

What is the process?

The precise stages involved in the re-mortgage of a residential property vary according to the circumstances. However, below we have listed the key stages. We do the following:

  • take your instructions and give you initial advice
  • send out our client care pack to you with initial forms for you to complete and return
  • obtain title information documents from the Land Registry
  • order Searches if this is required by your new lender
  • review and report to you the conditions of your new mortgage
  • obtain a redemption figure from your current lender
  • send paperwork out to you for signature
  • agree a completion date
  • prepare an invoice and completion statement
  • arrange for all monies needed to be received from the lender and you
  • discharge the old mortgage
  • deal with registration of the new mortgage

How we can help

At McHale & Co, we understand the process of remortgaging can be difficult and stressful. We are here to provide advice, and have the know-how to ensure any creases are ironed out. We are able to provide the relevant documents once the remortgage is completed. However, please note that you are responsible for ensuring any outstanding debts are paid off (if any).

Get in touch

If you would like to know more about how our tailored services can best suit your needs, do not hesitate to get in touch. Although based in Greater Manchester, we can provide high-quality legal assistance to those who need it around the UK. Call us today on 0161 929 3086, or fill in the online contact form.

Testimonials

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Helen, can I just thank you for the professional and thorough way in which you have dealt with this matter and your advice has been very welcome at times. Worth every penny for peace of mind.

Mr L

Extremely helpful and considerate. Very attentive . Nothing was too much trouble from the first phone call to receiving a hard copy of the will. Couldn’t have asked for more. I would not hesitate in recommending you to friends and family. A fantastic service all round. Thank you Michaela.

Mr M

I would like to thank you (Paul Fitton) for your most professional guidance and advice, I appreciate the effort and time you devoted to my issues on this subject.

Mr S

Mr Nattrass is always understanding and helpful and takes time to listen and explain. It is always a pleasure to deal with him. Also, your reception staff are lovely and welcoming.

Mrs J

The service we received from Helen Green was fantastic, nothing was too much trouble. We would recommend Helen without question.

Mr J

The service provided was excellent. Many thank to John Nattrass for all his input and execution of our wills.

Mrs H

I would like to commend Michaela for her warmth, compassion and professionalism. It was because of her superb persona that I am using McHale & Co. Thank you very much Michaela!

Miss J

We are grateful for your work on our behalf. You ensured that the necessary process was done smoothly and efficiently and you have been a pleasure to deal with.

Mr G.

Excellent service and prompt replies to everything that we wanted. Very professional in these unusual times.

Mrs. S.

Very happy with McHale & Co dealing with my Mother’s Deed of Probate and sale of her house, very helpful during a difficult time.

Ms. C Jones

Outstanding service. A breath of fresh air!

Ms. M

I would like to thank McHale & Co Solicitors for their excellent work.
The support Helen provided me with was above and beyond, it was her professionalism and her personal and effective responses which made such a difficult time for me a lot more bearable.
I would have no hesitation in using McHale & Co again and will certainly recommend them to family, friends and colleagues.

Mrs B

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