Remortgaging A Property

Remortgaging Solicitors

Home improvement, increased property value, more flexible terms – there are numerous reasons why you may want to remortgage your property. Slater and Gordon can assist you with expert legal advice for all questions and tasks around remortgaging a property.

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Property solicitors

Slater and Gordon have expert property solicitors ready to deal with all aspects of residential freehold and leasehold conveyancing. Contact us online today, call us on 0800 780 2730 or try our online conveyancing calculator.

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Remortgaging explained

Remortgaging is the process of taking out a new mortgage on a property you own. There are many reasons to consider doing it, including:

  • Better interest rate to make your mortgage cheaper so you can save money.
  • Mortgage rate is coming to an end.
  • Value of your property has risen, which could put you into a lower loan-to-value category and mean you're eligible for lower rates.
  • Option to overpay on your mortgage - helping you to clear your mortgage debt more quickly, e.g. after inheriting money.
  • More flexible terms, such as the option to take a payment holiday.
  • Fixed rate deal that'll give you added peace of mind over the next few years.
  • Ability to borrow more money against your property - for example, to make home improvements or to clear other debts.

What is the process of remortgaging?

We advise you to take the following steps:

How can we help?

We are able to assist you and guide you through the above legal steps. We are happy to provide informal and additional guidance throughout the process.

We are experts when it comes to leasehold property, which are even more complicated. We will:

  • Check that the length of the lease complies with the requirements of your new mortgage lender,
  • Ask your managing agent or landlord to confirm that all service charges and ground rents are up to date and to provide a copy of the building insurance.

Our solicitors can help you to understand your situation and explain your options. Call us now on freephone 0800 780 2730.

Costs of remortgaging a property

At Slater and Gordon, we want to avoid hidden fees and unexpected costs. That's why we will provide you with a fixed quote before starting our services. That way, you know exactly what you'll be paying and what services you'll receive.  Our fees only change if your instructions do.  

Besides the legal fees, you will have to pay the land registry fee and, if applicable a search fee, if searches are required by your new lender.

Case studies

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Mary Fielden of Manchester was a lively character who'll be sadly missed by her neighbours and carers.

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A mother contacted our team to help arrange which school her daughter was to attend after the father unreasonably challenged her position.

Taking children out of the country without consent

A father contacted our team after his daughter was taken to Egypt without his consent.