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Remortgages

Remortgages

Remortgages should be quick, efficient, cost-effective and relatively pain-free as you already own the property and all that is happening is you are replacing one mortgage with another. However often this is not the experience of clients who opt to use the Lender’s solicitor on a “free legal service” basis.

Do you need to remortgage your home?

When you use the Lender’s solicitor you lose control of the timescales of the transaction as they work to their requirements and not to yours. Here at Neves we recognise the importance of speed and efficiency in the processing of 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 a short delay of a week can incur considerable additional expenditure.

Our remortgaging service

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 prior to the expiry of their current product in order 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 in relation to 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.

Mortgage Brokers

We would strongly advise that you should contact an independent mortgage broker who can fully research the mortgage market on your behalf and identify a product which best suits your requirements. We work closely with the Mortgage Store in St Albans and Milton Keynes. They are an independent broker who can act for you either in relation to 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

Thanks Charlene, I am so grateful to you and your team for handling both our sale and purchase. I have especially appreciated how responsive you have all been to my questions and queries over this time.

28/06/2018