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Kiri Kkoshi

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Taking out a remortgage on your existing home has many advantages from a financial point of view. It can help you:

  • save money by taking advantage of a better mortgage rate
  • raise money for a major outgoing such as a child’s wedding
  • provide funds to extend a property and avoid moving home
  • consolidate debts by releasing equity in your home to pay off other loans, credit cards etc.

The services of an experienced residential conveyancing solicitor will be essential however, to ensure your interests as the property owner are protected throughout the transaction, especially if you are moving from one lender to another.

The grass is always greener

Because banks and building societies are regularly introducing new finance products to the market, depending on the type of mortgage you currently hold and whether you are tied to a particular interest rate, some householders can effectively save money and reduce their monthly payments by remortgaging.

In certain circumstances, for example, if your income increases, you may want to make higher mortgage payments in order to cut the length of the mortgage term.

Remortgaging, rather than extending an existing mortgage, is another way of paying for improvement work to your home without necessarily costing you much more in monthly outgoings.

Once you have decided to remortgage, to find the best financial deal at the lowest cost will require a certain amount of research. Mortgage brokers are specialists in this field and will offer remortgaging quotes from a variety of lenders to accommodate your wishes at no cost to you.

It can also be worthwhile contacting your current mortgage supplier to see if it is willing to move you to a more advantageous deal.

When you’ve done your sums, if you are happy to go ahead, you should contact a solicitor who is experienced in residential conveyancing for both freehold and leasehold properties.

Although the procedure for a remortgage is simpler than for an original purchase, because the title deeds remain in the same name, there are still a number of legal processes which must be completed.

Whether you are staying with your existing lender or going to a new one, a valuation of your home will be needed and a full mortgage application form completed.

Your solicitor must then check the deeds and any other documentation (such as charges on the property), conduct local authority searches, and act as the intermediary for repaying the existing mortgage and transferring funds for the new remortgage.

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How We Can Help

Healys has a dedicated and experienced team of conveyancers who can carry out the detailed work involved in remortgaging cost-effectively and efficiently.

Our professional and experienced team understands that with deadlines to be met and a large amount of money involved, you need the peace of mind which comes from using lawyers and ancillary staff dedicated to your needs. We are here to provide the hassle-free service you are looking for.

Wherever you are in the UK, if you require first-class legal services for conveyancing, Healys’ conveyancers will be able to help – providing jargon-free advice at every stage of the process and ensuring the transaction is conducted as quickly and smoothly as possible.

Recommended by Legal 500

Healys Residential Property practice is recommended by Legal 500, and noted as a “firm to watch”.

Kiri Kkoshi, head of Healys Real Estate, is individually recognised as a leading practitioner in her field, and ranked as a Recommended Lawyer by leading industry directory Legal 500 and the Spears 500 private client advisor guide.

"The super knowledgeable, punctual and thorough team at Healys LLP is led by Kiri Kkoshi who acts for a broad range of clients from high-net-worth individuals to property developers and banks."

Legal 500

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Healys lawyers don’t believe in legal jargon, but rather in having straightforward, open discussions, updating you every step of the way on the progress of your case.

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