When you use the Lender’s solicitor you lose control of the timescales of the transaction as they work to the lender's requirements and not yours. Here at the Neves office in Milton Keynes, we recognise the importance of speed and efficiency in processing your remortgage transaction.
The majority of clients are remortgaging from their Lender’s variable rate to a lower rate product after their previous product has expired, and even a very short delay of a week can incur considerable additional expenditure.
We would aim to complete all remortgages within 1 week of receiving the mortgage offer and instructions from the Lender and providing that all of the information is made available to us, to satisfy any conditions which the Lender may have. We would advise that all clients contact us before the expiry of their current product so that the remortgage legal paperwork can be prepared in advance and set up ready to complete as soon as any redemption period expires.
This minimises the time spent on the Lender’s variable rate terms. The majority of Lenders will allow new borrowers a financial contribution or “cashback” towards your remortgage legal fees if you opt not to instruct their solicitors. This cashback would cover the majority of Neves’ legal fees and disbursements concerning the remortgage work.
The service and turnaround timescale at Neves would match your needs and requirements as opposed to the service offered by the Lender’s solicitor. In addition, you would have the benefit of a local solicitor making the signing and executing of documentation considerably easier.
We would strongly advise you to contact an independent mortgage broker who can fully research the mortgage market on your behalf and identify a product that best suits your requirements. We work closely with the Mortgage Store in Milton Keynes. They are an independent broker who can act for you concerning either a purchase or a remortgage. They do not charge an arrangement fee in respect of the work they do for you. In addition to mortgage advice, they also offer a full range of insurance products including life, critical illness and buildings/contents cover. You can visit their website at www.the-mortgagestore.co.uk
Katy, can I just say you are a star! Anyone else I deal with faffs about, doesn’t know or doesn’t do. You just nail it every single time without fail and I really appreciate dealing with a real pro again.