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Mortgage and Remortgages Solicitors
When buying a house, many people will need to take out a mortgage in order to purchase their new property. This money is often borrowed from a bank and is repaid over the course of time, with the bank using the property as security if payments cannot be met.
Our Mortgages and Remortgages Solicitors will advise you regarding the legal implications, as well as acting for your lender ensuring that the legal title not only meets your requirements, but also theirs.
Remortgages
Many homeowners wish to change providers for a variety of reasons, often to get a better rate or to release equity from a property.
Our Mortgage and Remortgages Solicitors help you through what can be a complicated process and will ensure that it happens as efficiently as possible, from the redemption of the existing mortgage to the completion of a new one. We will check through all the paperwork given to us by your provider, making sure that you are informed of any important legal information, and helping you complete with ease.
FAQs
What are some Top Tips when buying a house?
There are many hurdles to jump when you’re purchasing a new home.
- Know the true costs and set a budget. Don’t just save for a deposit; budget for the whole buying process including surveys, searches, land registry, mortgage arrangement and legal fees, stamp duty, removal and furnishing costs and any potential repairs. And, if you’re buying a leasehold property, remember to factor in service charges and ground rent.
- Get an ‘Agreement in Principle’ before making an offer. Talk to a mortgage adviser about mortgage deals, then get an 'agreement in principle' from a mortgage lender – it could give you the edge on buyers without one.
- Consider your options - if you are a first time buyer, it’s well worth exploring the government’s first time buyer initiatives.
- Appoint an experienced lawyer - a good lawyer will manage the legal side of house buying and ensure everything goes smoothly.
- Get first dibs – ask local estate agents to call when suitable properties are about to come onto the market, that way you can book one of the first viewings.
- Ask questions – find out as much as you can about the area and the property, including how many viewings and offers it’s had - it helps when it comes to negotiating.
- Be realistic about timings – local searches can take up to 18 weeks and if you’re in a chain, not everyone will be ready when you are.
- Commission a full property survey – it's different to a valuation survey and will flag up any problems that could cost you later down the line. Your lender may require you to use a specific surveyor.
- Get insured – find a comprehensive building insurance policy with no onerous restrictions they can impose if, for example, you’re purchasing in a flood risk area.
- Draw up a Will – if you die, you'll want your assets (including your home) to be distributed to your loved one. Ask a lawyer to help you draw up a legally binding will.
