A re-mortgage is where you decide to take a new loan from a new Mortgage Lender and repay your existing Mortgage Lender. This is generally done because you can get a better deal.

You may, for example, have taken a fixed interest deal for a given period and at the end of the period interest rates may have risen or fallen significantly and you may wish to obtain a lower rate, than offered when your fixed rate comes to an end.

The re-mortgaging process is an amalgamation of the work we do in connection with sale and the purchase. For most Mortgage Lenders, we will still need to undertake the searches referred to in our guide.

We have to obtain your existing Title Deeds from your existing Mortgage Lender and Office Copies of the Title to your existing property from the Land Registry. When we have our satisfactory searches and your new mortgage offer we then agree a date to complete the re-mortgage. We apply for a redemption statement (the amount required to repay your existing mortgage) and we do our final searches and request the new funds from your new Mortgage Lender.

On the day of completion, we effectively pay off the old loan and register the change of Mortgage Lender at the Land Registry before eventually sending the Title Deeds and documents to the new Mortgage Lender for safe custody.

Instruct us online for your remortgage