Remortgage
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Here for the small decisions…And the big ones
Committing to a mortgage is a big financial decision, from changing lenders to switching rates it is likely you have a lot of questions before making any choices. Feeling overwhelmed? Having one of our expert property or remortgage solicitors by your side can give you the peace of mind and guide you in the best direction.
In some cases your lender may have a recommended board of approved remortgage solicitors they work with, while you can choose one of their proposed lawyers you are not obliged too. This is where a free consultation with a remortgaging expert here at Waterstone Legal, one of the best property law firms in London can prove invaluable. Whatever your reason for remortgaging, we provide solid support and clear advice to help you move forward.
Explore our services
Legal advice & consultation
Title check & verification
Mortgage redemption
New mortgage registration
Leasehold considerations
Equity transfer (if required)
Stamp duty advice
Property searches (if required))
Independent legal advice
Deed of postponement
What is a remortgage?
Remortgaging is the process of moving your mortgage from one lender to another on your current property. This can be for a variety of reasons and provide many benefits such as;
- Saving Money – One of the main reasons homeowners such as yourselves choose to remortgage is to save money. If you signed up to a mortgage when interest rates were high or your borrowing power was less favourable now could be a good time to switch. Hence, this could potentially save you money from month to month (which could be spent on holidays).
- Get a Better Deal – Since you signed up for your mortgage there may be better deals on the market that you could benefit from. You may have reverted to a lender’s higher rates after an initial mortgage period has expired. There are lots of different options available and it is worth constantly keeping an eye on rates. For example, switching to a fixed or tracker rate could help you save on your monthly payments.
Release Equity – The value of your house may have increased since you purchased the property. If you wish to release some of that value without selling, remortgaging provides a great option. Moreover, you can choose the amount you wish to release and adjust your monthly payments to accommodate the release.
Why do you need a solicitor to remortgage?
From protecting your interests to ensuring all the legal requirements of the transaction are met, having a remortgage solicitor by your side for a re-mortgage is vital. Conveyancing is the legal aspect of transferring your property from one lender to another and ensures your new lender has legally registered the property charge and the previous mortgage is paid off. Additionally, a conveyancer will work with third parties to ensure the remortgage is conducted in accordance with the law, conducting all the relevant searches and ensuring the property register is updated.
When is the best time to re-mortgage?
The best time to re-mortgage depends on your circumstances. From what rate you are currently paying, what mortgage deals are currently on the market to your personal financial plans, remortgaging could be a great option to help you free up equity or save money for the future. You can speak to your current lender about whether you are in a position to switch from your current deal and research other lenders to assess what are the most competitive rates available. Once you have decided on a lender, you can apply for the agreement in principle to assess your borrowing power and start the process.
Choose your Lawyer
Benefits of remortgaging
We offer a fixed- fee on our remortgage services so there will be hidden costs and you can keep your financial plans in place.
Your solicitor will be by your side from start to finish, working hard to protect your interests. Also, they will work closely with all parties to ensure the transaction takes place as quickly and smoothly as possible.
You have access to your personal property portal for regular updates on your transaction and track progress. This helps you quickly monitor how far away you are from completion and puts your mind at rest.
Not all lawyers are oh-so-serious, our team is a friendly bunch who are here to help keep the legal process simple, fun and enjoyable. Our solicitors are some of the best conveyancing experts in London and can work with you in person or virtually to support you on your journey.
What are the steps of re-mortgaging?
It really is as simple as A,B,C
Let's talk costs
Our costs reflect the best legal advice at the most competitive prices. Remortgage matters vary and many require a bespoke service. Whilst some of our legal services come with fixed fees – every case is different. We provide a detailed breakdown of anticipated costs after your initial free call.
What our Clients
say about us
How wonderful and amazing Oliverta is. Thank you for everything you are the best.
Waterstone Legal were the cheapest quote we could find but the quality of the service was 5 star. We had prompt replies to our emails (within an hour or two) every time and Darius was instrumental in pushing the buyer’s Solicitors when they were slow to respond. If I was selling again now, I would choose Waterstone again without hesitation. Thank you Darius!
WS Legal did a great job with our sale. Towards the end, when we were nearing completion, the buyer's party raised numerous questions, and the solicitor assigned to our case (Nithi), very diligently checked requests and responded. She also kept me informed of developments so I could help answer queries. She did her best to move the sale to exchange ASAP. She was also kind and helpful - she did a great job!
Over the years Waterstone Legal firm has been of good representation of my immigration matter. Success is their watch word, they render best service to meet my satisfaction.
Quick to respond to queries and documentation received. Pleased with service. From agreeing sale to completion 11 weeks, top job!
Why Waterstone Legal remortgaging expert
Not only does having one of the Waterstone Legal property team by your side speed up the process, crucially your dedicated solicitor will ensure your rights and financial interests are properly protected.
Using a solicitor ensures you serve the correct notice, prevents delays, can handle communications with your landlord and ensure the new lease reflects, your requests, and future interests – this covers things like ground rent, service charges and responsibilities.
You can rely on us to have your best interests at heart from start to finish.
FAQ'S
Every remortgage is different and each case depends on the complexity of the lenders requirements. As a guideline it can take anything from 4-8 weeks.
In general you can remortgage if you meet the lenders requirements and have a certain amount of equity in your home.
It is not normally expensive to remortgage and in some cases your lender will cover the conveyancing fees.
You can generally remortgage after 6 months of owning your property. This rule can vary from lender to lender.
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