Whether you want to switch to the best mortgage rate, change your loan provider or simply raise capital, McMillan Williams can help you complete you remortgage quickly and efficiently.
Partner, Head of Borrower Bridging & Equity Release
We act for a wide range of banks and building societies and are on all of the major lender panels, but if you wish to use a smaller lender, we are happy to work with them too.
Although the legal process for remortgaging is simpler than your original purchase, there are still a number of checks and requirements to overcome before you can draw down funds.
You should always use an experienced solicitor who is familiar with your type and use of property, whether it be your home, buy-to-let, freehold or leasehold. At McMillan Williams we have a dedicated team of specialist property solicitors who are able to carry out the detailed work involved thoroughly and cost-effectively.
We understand that you are likely to be remortgaging to meet a deadline, such as the end of an existing interest rate, or in time for the next mortgage payment, or even to release equity to pay for home improvements, family events or debt consolidation. You can rest assured that we will work with you and your mortgage broker to provide a fast, efficient and smooth service to ensure we can draw down funds as soon as possible. We are happy to discuss meeting a particular deadline or timescale at the outset of the remortgage.
Legal Process for Remortgaging
- You will complete and return to us our initial paperwork with written instructions and proof of Identity.
- We will apply for your up-to-date title documents from Land Registry, and any historic deeds or documents which might still be held by your existing lender before carefully reviewing the title document to ensure there are no problems
- You will receive your written Mortgage Offer and we will receive the solicitor’s copy
- We will send you our written report together with the Mortgage Deed for you to sign and return to us.
- We will meet all of the new lender’s requirements as set out in the Mortgage Offer, agree a completion date and obtain a final redemption figure from your existing lender.
- We will request the draw down of funds from your new lender by certifying that your property has a “good and marketable” title and then pay off your existing mortgage and account to you for any surplus funds.
- We will register your new mortgage at Land Registry and let you know when this has been done.
We Can Help
At MW, we can help you with any remortgage or refinancing, from a first time remortgage to buy-to-let property portfolios. If you are thinking about remortgaging, or would like to speak to one of our specialist property solicitors call us today on 0203 551 8500 or email us at email@example.com.