Mortgages & Remortgaging Solicitors in South Wales

Mortgages

We are required to review your mortgage offer along with other documents regarding the property you are purchasing, carrying out essential conveyancing checks as required by your mortgage lender. We ensure that all the conditions are met and that you and your mortgage lender are happy with offer so that your Mortgage Deeds can be signed. All new mortgages will be registered at the Land Registry following completion of your purchase.

Our residential buying fees cover all of the legal work needed to purchase your new home. We have separate fees for buying freehold or leasehold properties, with the costs based on the value of the property and the fees charged by third-parties, such as for essential conveyancing checks. We are members of many major mortgage lender panels, which means that we can also act for your mortgage lender, at no additional cost, thus making the whole process that much more seamless.

Remortgaging

As a homeowner, you may be looking to change the mortgage on your property to a new lender for a variety of reasons. You might simply be looking to get a better mortgage deal or to release some of the equity in your home. You might want to borrow more money to fund home improvements or because your circumstances have changed due to divorce or a relationship breakdown.

Whatever the reasons, remortgaging can be confusing and stressful, causing many people to put it off and miss out on the chance to get a better deal or access the capital they need. Our goal is to help you navigate the remortgaging process as simply and effectively as possible, saving you time, money and a lot of stress, while enabling you to get the best possible mortgage deal.

Our remortgaging solicitors are highly experienced, having worked with a wide variety of borrowers and lenders over the years under all sorts of circumstances. We know exactly what is needed to help you avoid delays and unnecessary hassle and confusion, so can help keep the remortgaging process as smooth and swift as possible. That way you can get your new mortgage in place faster and more easily.

Speak to one of our expert remortgaging solicitors in Cardiff, Newport or Chepstow today by calling 01633 242 526 or use the contact form on the right to ask a question.

How we can help you with remortgaging

Here at hpjv solicitors, we have helped thousands of clients, over the years, to remortgage their properties. Our aim is to make the whole process as straightforward and stress-free as possible, working at all times to your time-scale.

If you decide to instruct us, you will benefit from:

Competitive fixed fees with no hidden costs
Our extensive experience of working with mortgage lenders
Clear jargon-free advice
Regular up-dates by phone or e-mail
A friendly, professional, and, reliable service
We are accredited members of the Law Society’s Quality Conveyancing Scheme

Common questions about remortgaging

Do you need a solicitor when remortgaging?

If you are extending your existing mortgage or switching to a new mortgage with your current lender, you will not necessarily need the assistance of a solicitor. However, it may still be advisable to have a solicitor review the new mortgage agreement with you before you sign.

However, if you are switching to a new lender, you will generally need the assistance of a conveyancing solicitor. A remortgaging solicitor will carry out various essential tasks, including:

ID checks
Requesting the redemption statement from your current lender
Carrying out any property searches and checks required by your new lender
Having your property valued
Checking the terms of the new mortgage
Land Registry checks
Handling transfer of funds from your new lender to your previous lender and paying any balance remaining to you
Registering the change of lender with the Land Registry

What is a redemption statement?

A redemption statement is a document produced by your existing lender that shows how much you owe on your current mortgage and any exit fees or other repayment charges that you will need to pay to end your mortgage early.

A redemption statement effectively gives a total figure you will need to pay to your existing lender in order to move your mortgage to a new lender.

Is it worth remortgaging?

This will depend on various factors, including how long you have had your current mortgage deal, what interest rate you are paying and what interest rate other lenders are offering and what your reasons are for remortgaging.

It is important to do your research and work out how switching to a new mortgage will affect your monthly payments and the total you will ultimately need to repay.

When is the right time to remortgage?

Many mortgages come with a fixed interest rate for a set period, often the first 2 years. When this fixed rate period ends, you will often be switched to a standard variable rate of interest, meaning your interest rate will depend on the national interest rate set by the Bank of England.

The end of your fixed rate period is often a good time to look at remortgaging as it is often possible to get a better deal. However, any savings you make will need to be balanced against the cost of moving your mortgage, for example, paying exit fees or other early repayment charges.

How long does a remortgage take?

This will depend on the circumstances, but it commonly takes around 4-8 weeks to carry out a straightforward remortgage.

Speak to our remortgaging solicitors in Cardiff, Newport and Chepstow today

If you need reliable help with remortgaging your home, allowing you to switch and smoothly get a better deal on your mortgage, please get in touch with our residential property team today.

For more information or to speak to one of our remortgaging solicitors in Cardiff, Newport or Chepstow, please call us on: 01633 242 526

Or, to see how much your conveyancing might cost, feel use our free conveyancing calculator.