You may have decided to remortgage your property to get a better rate from your lender, to take a further or second mortgage against the property or simply to raise some capital from the equity.
The title to the property needs to be investigated to the same standard as a purchase and so provision of information by you promptly at the start is essential.
Lenders do not always require the same searches to be carried out as for a property purchase. Most lenders will accept a search indemnity policy, which can reduce the time it takes to reach completion and the costs involved. Full searches for a property usually have an approximate cost of £250.00 whereas, a search indemnity can be provided for approximately £30.00. However, indemnity fees always depend on the property price involved and each lender’s requirements are different, so please contact us to discuss your particular situation and we can advise you. We will guide you through the whole process from the start and provide you with regular updates on the remortgage by phone, text or e-mail.
If you’d like more information, please visit our residential conveyancing solicitors page.
For more information about remortgaging your property, please contact a member of our team.