Remortgages

Remortgaging is where you pay off your existing mortgage and switch to another mortgage or lender. You may be able to release equity from your property or simply reduce your monthly payments and interest rate.

If you are switching to a new lender, you will need to instruct a solicitor to deal with your remortgage as your new lender will require the necessary due diligence work to ensure that the property is suitable for a loan.

First Steps

You should firstly check the value of your property. If you have more equity than when you last mortgaged your property, you may be able to obtain a more favourable mortgage deal in the marketplace. As a rule of thumb, the higher the property value in relation to the mortgage, the more deals may be available to you.

You will need to check the market for what mortgage products are available to you. You can do this by searching online or by consulting a mortgage broker who can search the market for you.

Even though there may be lower rates available, you need to take into account any fees associated with switching and the remaining length of your loan.

Once you have decided to remortgage, Jordans’ conveyancing team can provide the full legal service required to remortgage your property. This process is outlined below:

Jordans will write to your current mortgage lender and request your title deeds. Most properties are now registered with the land registry and it may be the case that your lender does not hold any deeds. If this is the case, we can get a copy of your title from the land registry. This can be done immediately as Jordans Solicitors have access to the online land registry portal system and this will ensure there is no delay at this stage.
We will then request a redemption statement from your current mortgage lender for budgeting purposes. We need to check that the money you will be obtaining from your new mortgage will fully pay off the old mortgage. If there is not enough, you would need to pay the difference from you own funds.
Lenders will often add a fee for producing a redemption statement and a deeds production fee to the mortgage balance.
We will check the mortgage offer to see how much you are borrowing and whether there are any conditions attached to the mortgage.
Once all the title checking has been completed, Jordans will:
- Request a final redemption statement
- Carry out final searches
- Request the mortgage advance from your new lender
- Completion of the Remortgage
- On the day of completion we will pay off the existing mortgage with the new mortgage money.

Contact Us

To speak to one of our team, to get a quote or for further information on the conveyancing process, please contact us on 033 03001103.

Why choose Jordans Solicitors?

Our team are specialists in the area of residential property law, which helps to ensure transactions proceed as smoothly and quickly as possible.

We have a sophisticated case management system and a state-of-the-art IT system that also provides us with a direct link with the Land Registry, allowing us to achieve the best possible outcome in as timely a manner as possible.

Looking for a quote?

We operate on a fixed fee basis which is calculated on the value of the house you are buying or selling. Please contact our team who will be able to give you a quote or get a free online quote here:

Free Online Quote

Our reviews

Shaquille Kilbourne

Shaquille is organised, responsive, provides information willingly, updates regularly, was patient while the sale of my home went through, advocated for me with the developers (negotiating extensions due to delays on my sale). I would only use Shaquille and Jordan’s from now on.

Nicole Charlesworth

Great communication, especially with Nicole, always replied to any queries we had.

James Gent

A local firm to deal with my local property sale. Quality and Prompt work by James. Very pleased with the service.

Shaquille Kilbourne

I recently sold my mother's house as executor of her will. Jordans were very efficient and helpful at every stage. I was kept fully up to date regularly, even when it was just a message to say they had requested information from the buyers solicitor. This meant I felt confident in the process. I felt the charge was very reasonable. I would thoroughly recommend them.

James Gent

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Shaquille Kilbourne

Fantastic service while buying my first house. Suzie and Shaquille both answered any questions I had in terms I understood which was incredibly helpful. Thank you again!

James Gent

My transaction was handled professionally with care and in a timely manner. Everything that was required in my case

Shaquille Kilbourne

Jordans Solicitors have just represented me in a recent property sale. The Customer Service and communication have been fantastic throughout. Nothing has been too much trouble. Even when there were problems with the sale, my Solicitor Shaquille was always proactive with updates. I would highly recommend for any sale / purchase you may have.

Shaquille Kilbourne

Excellent service provided by Shaquille Kilbourne at the Dewsbury office. Responded to emails and queries in a timely and professional manner.

Shaquille Kilbourne

We were extremely satisfied with the service provided by Shaquille Kilbourne. He was always very prompt to return phone calls or emails, and often did so outside office hours. He guided us through a stressful process in a kind and professional way. He was recomended to us and we will be happy to recomend him to others.

Shaquille Kilbourne

I would like to take this opportunity to thankfully express my satisfaction with your service. Your professionalism and friendly approach represents a template of good customer service; one that truly exceeded my expectations.

Shaquille Kilbourne

Shaquille was a very good listener and provided a good sounding board and source of advice when I wanted to discuss my options. His communications with me were very professional, timely and effective. Overall, I believe that Shaquille delivered an excellent service and I am immensely grateful to him.

Shaquille Kilbourne

Shaquille Kilbourne was very polite and efficient to deal with

Shaquille Kilbourne

Shaquille was approachable and friendly, making the whole buying/selling process much more stress free.