Do I Need A Conveyancer To Remortgage My Property?

There are a lot of current financial conditions that are affecting mortgage rates. This may have got you thinking about remortgaging your property. If you are wondering what it means to remortgage your property and if you need a conveyancer to remortgage your property, then this is the blog post for you.

Here at Burgh Thorpe Solicitors, we are here to help you – if you have any questions about property law and conveyancers, then let us know.

Remortgaging your property is where you take out a new mortgage on a property that you already own. This could be done to repay an existing mortgage at a better rate, or to borrow more money. When you first got your mortgage on your current home you would have been offered an introductory deal for a set amount of time, known as a term. At the end of the term, it is likely that you would be automatically moved onto a different rate by the mortgage lender. This will often be higher than your previous rate. This is when many people look at remortgaging their homes. It’s a way to shop around for a better deal and save money.

To remortgage your property, you will need a conveyancer or a property solicitor. They will be able to process the remortgage transaction for you. This will include redeeming any existing balance with the current lender. Also, removing their registered mortgage from the Land Registry title. The property solicitor will also enter you into the new load with the new mortgage lender. This will include registering their mortgage with the land registry.

Here at Burgh Thorpe Solicitors, our conveyancers in Peterborough will be able to help you remortgage your property. They will just need some details from you. They will need to know your property address. This will enable them to obtain the required Land Registry details. They will need your current mortgage account details. They will also need the details of the new mortgage lender as well as a copy of the offer.

If you are looking to remortgage your property, you need a local conveyancing solicitor that you can trust. Call our conveyancing team now to see how we can help.