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Remortgage Guide

You have searched for a suitable Mortgage Product and know of any redemption penalties you may incur. Alternatively, you have instructed a Mortgage Broker / Financial Advisor to search for a suitable Mortgage Product on your behalf.

Your New Lender will carry out a valuation survey of the property and check that you are eligible for a loan.

You Instruct a Solicitor.

Your Solicitor will send you a questionnaire and request Identification for Money Laundering purposes (your Mortgage Broker can send them Certified ID should your Solicitors accept this).

Your Solicitor will retrieve your Title Deeds from your Current Lender (or wherever they are stored) and check them on your behalf.

Your Solicitor will carry out any necessary Searches (in accordance with the Lender’s requirements) and check the results.

Your New Lender will send you a Mortgage Offer, usually with a copy going to Your Solicitor with some additional legal material.

Your Solicitor will prepare all documentation and send to your for signature and return.

You return all documents to the Solicitor and Lender (as specified).

Your Solicitor will check the Redemption Figure on your existing mortgage and confirm a Completion Date with both You and Your New Lender.

Your Solicitor will request the Lender for the Mortgage Advance Funds.

Your Solicitor will pay off your current mortgage (if applicable) and send any surplus funds to you.

Your Solicitor will register the new charge with the Land Registry on behalf of the Lender and remove any redeemed charges.

Your Solicitor will sort out the storage of Deeds.

Registered Office: Market Chambers, 27 Eastgate, Aberystwyth,  Ceredigion, SY23 2AR
Powell Davies Solicitors is a trading name of Powell Davies Solicitors Limited who are registered
in England and Wales  with Company Registration No: 5288033   VAT Registration No:  869 3723 76
Powell Davies Solicitors are registered by the Solicitors Regulation Authority.
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