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Remortgage Advice Solicitors
When thinking about remortgaging your home, seeking legal assistance can ensure you make the right decisions and pick the option representing the very best fit for you. At JMW, our highly experienced solicitors can advise you on the range of options available and discuss which are the most favourable for your specific situation.
To take advantage of our team's expertise in this area of law, do not hesitate to get in touch today. Simply call us on 0345 872 6666 or fill in our online enquiry form and a member of the team will give you a call back as soon as possible.
Remortgaging is the process of switching a home loan from one product to another. The majority of people do this so they can save money on their mortgage repayments, which is typically a person or family's biggest outlay every month. They aim to do this by opting for a deal with lower rates than they are currently paying.
In addition, people might want to switch to a product that lasts for a shorter or longer period of time than their current deal.
Remortgaging is seen as a favourable move by some homeowners because it can:
- Give you access to funds following an increase in the equity of your property
- Provide an improved rate of interest following a change in circumstances since you first bought the property
- Provide better security in the form of a fixed rate (if the previous mortgage was on a tracker or variable rate)
Remortgaging can save homeowners a huge amount of money on their repayments each month. However, the costs associated with the process can sometimes be very large and leave you with serious financial difficulties if you do not make the right decision. It is therefore highly recommended that you seek expert advice beforehand.
Typical fees you may encounter when remortgaging your home can include:
- Early repayment charge to your existing lender
- Exit fee (also called a deeds release fee or an admin charge) to your current lender
- Mortgage fees to your new lender, including an arrangement fee and a booking fee
- Valuation fee to your new lender
- Conveyancing fee to your solicitor
- Broker fee to your broker
- New mortgage repayments to your lender
With so many fees to potentially consider, it is vital you have an understanding of what you are likely to pay and whether or not this will be a viable option for you. Seeking expert legal help can ensure you select an arrangement that will be beneficial for you both now and in the future, and will not have the opposite effect to what you were hoping for.
At JMW, our solicitors can advise you on the range of options available and will help you to work out which is the right fit for you. Everyone is in a different situation regarding their mortgage repayments, so it is important to select a solution that best matches your needs.
We can then take care of the legal process of remortgaging for you, handling the complicated essentials and updating you on our progress as and when you wish.
We have helped countless people with their home loan issues and if you have any questions - no matter how big or small - regarding remortgaging, please don't hesitate to get in touch.