Whether you are taking a mortgage on a property that doesn’t currently have one or remortgaging your property; Pearson Solicitors can help with the transaction.
There are several reasons why people remortgage their homes, many of which could save money in the process. But there are also traps that homeowners can fall into which could prove costly - which is why a conveyancing solicitor is a vital part of the remortgaging process.
Reasons to Remortgage
The many reasons why you may look to re-mortgage are:
- To obtain a better rate of interest or other benefits such as offsetting interest in a current or savings account.
- To consolidate debts and re-pay any other secured or unsecured debt.
- To fund home improvements, extensions, conservatories, loft conversions.
Mortgage lending is a highly competitive market with banks, building societies and other financial institutions offering mortgages with new deals to attract customers, making switching an appealing prospect.
While the concept is simple, the legalities can be complex, especially dealing with properties that may have long-standing covenants. And if there are any other loans or other restrictions secured against the property, other legal steps must be taken before the remortgage can go ahead.
Whilst re-mortgaging can save homeowners a huge amount of money, the costs associated with the process can sometimes be large and potentially have consequences. It is therefore highly recommended that you seek expert advice beforehand.
Choosing your Conveyancing Solicitor
Once you have your mortgage agreed in principle getting the best expert legal advice is key to a successful and hopefully swift completion of your re-mortgage.
Here at Pearson Solicitors, we are registered with the panels of most mainstream lenders and if it is not on a particular panel, we're happy to become a member in order to continue to represent a client’s interests during re-mortgaging. Meaning we can act for both you and your lender in the majority of re-mortgage transactions.
Our experienced Conveyancing team will guide through the process and advise of what actions need to be taken. This is especially important if you a re-mortgaging a leasehold property where your landlord and/or management company have to be involved in the process to ensure that everything completed as part of the re-mortgage.
We have helped many people both in Greater Manchester and further afield with their re-mortgage so if you are thinking of re-mortgaging or taking out a mortgage on your property which is mortgage free, why not give our expert Conveyancing Team a call on 0161 785 3500 or alternatively, let us provide you with a Free Online Instant Remortgage Quote that's fully inclusive of all costs and Guaranteed not to increase.