How long after can I remortgage?

Typically you can remortgage to a new deal six months after taking out your current mortgage. This means you will not be able to release equity for at least six months. If you wait for longer than six months you will have a better choice of remortgage with variable or fixed rate deals and equity options.

Can mortgage offer go wrong?

Well, it’s pretty rare for a mortgage lender to do any further checks on your finances after sending you a mortgage offer. But you’re legally obliged to tell them if there have been any changes to your income or employment status. And the same goes if the purchase price of the property you’re buying has changed.

How to find out if there is a fee for remortgaging?

Benchmark some top rates (with and without fees) using the MoneySavingExpert Mortgage Best Buys tool, then use our Compare Two Mortgages Calculator to see the effect. The lender will usually offer you the option to pay the arrangement fee upfront (at the same time you pay any booking fee) or, you can add the fee to the mortgage.

How can I Contact Sam conveyancing for remortgage?

If you get stuck or need any help then call us and speak to a friendly member of the SAM Conveyancing team – 0333 344 3234 (local call charges). Our experienced remortgage conveyancing solicitors have helped thousands of clients remortgage with a buy to let or residential mortgage. Our fixed fees are low and we’re rated Excellent on Trustpilot.

When does a solicitor agree to a remortgage date?

Once your solicitor is satisfied that the title is satisfactory for the purposes of the mortgage lender, that you have sufficient funding to redeem the current charge on the property and that you have passed their due diligence, then the solicitor will agree with you a date to complete.

Do you have to do structural survey for remortgaging?

Lenders require a valuation for their security, so they can be sure that if things go wrong and you fail to repay, they can repossess the property and get a decent amount for it when sold. Fortunately, this is the only survey cost you’ll face. Unlike buying a new home, you won’t need to shell out for a homebuyer’s report or structural survey.

What can you do with extra money from remortgaging?

Remortgaging could also help you raise money for home improvements or a special purchase, but think carefully about whether you can afford the extra amount over the full mortgage term. And if you’re planning to consolidate other debts, don’t forget that independent financial advice is available.

What are the final steps of a remortgage?

The final steps of a remortgage are pretty much the same as a buying a new property . Your new lender will carry out a credit check to confirm your current circumstances and arrange for your property to be valued. You’ll need a solicitor or conveyancer to handle the transfer of your mortgage. Some lenders may offer this as a free service.

Is there an application fee when you remortgage?

To make sure remortgaging leaves you better off, check whether the lender you plan to move your mortgage to charges any of the following Application fee – a charge to set up your new mortgage. Also known as an arrangement, product or booking fee

What do I need to do to remortgage my house?

Your new lender will carry out a credit check to confirm your current circumstances and arrange for your property to be valued. You’ll need a solicitor or conveyancer to handle the transfer of your mortgage, and some lenders may offer this as a free service.