Drawing equity out of your property to raise funds, or moving to a better rate, can look straightforward from the outside, but remortgaging usually involves more than replacing one mortgage with another.
Getting the right advice early means you understand what is actually involved and what happens to your existing arrangements before you go ahead.
Hine Solicitors’ remortgage solicitors handle the legal side of the transaction on your behalf and, in many cases, act for your lender at the same time, so you have one point of contact rather than two separate sets of paperwork to manage. This sits within our wider conveyancing service, and whether you are remortgaging to release funds, move to a better deal or restructure existing borrowing, we explain what is involved and what we need from you before the new mortgage completes.
Releasing equity
Releasing equity from your property can be an attractive way to raise funds, particularly where the money is going back into improving the property itself. This includes equity release mortgages, which we deal with in much the same way as any other remortgage. Whatever the reason you are looking to release funds, it is worth taking advice before you commit, since the decision affects your mortgage and your ownership position for years to come. We talk you through what releasing equity actually means in practice, what your lender will require and what to expect from the process, flagging anything along the way that needs your attention.
Timing is everything
Picking the right moment to remortgage can matter as much as the decision itself. If you are moving to get a better rate or drawing down equity, the timing of the transaction can affect how much you save and how smoothly it goes. A slow process can mean missing a rate that was only ever available for a limited window, so working with local remortgaging solicitors who turn things around quickly can make a real difference. We aim to keep things moving at our end so that timing works in your favour rather than against you.
One point of contact
In most cases our remortgage solicitors can act for you and for your lender in the same transaction, which means you are not juggling two separate solicitors or trying to keep two lots of paperwork moving in step. We deal directly with your lender’s requirements, keep you informed of what they need and when and handle the legal formalities needed to register the new mortgage once everything is agreed. It keeps the process simpler and gives you one person to call if you have a question, rather than being passed between different parties at a stage when you just want an answer.
Talk to us early
Remortgaging often comes down to timing, so speaking to us early gives us the best chance of keeping things moving in step with your lender’s deadline. Find your nearest Hine Solicitors office and we will talk through what the process involves for your situation.