WHAT HAPPENS NEXT?
We’ll guide you through the next steps in remortgaging
Step 1
The mortgage offer will be on its way to you and the solicitor/conveyancer firm. If you haven’t done so already you should have received and completed the ‘remortgage questionnaire’ and ‘mortgage deed’ which will have been sent directly to you by the solicitor/conveyancer firm.
These will have been sent either:
- In the post
- By Email (you may have to follow a link)
- Link via Text
If you have not received this please contact us.
Step 2
On the ‘remortgage questionnaire’ you will be asked when you want to complete, if applicable please ensure you add a date after your current mortgage early repayment charges end.
If you are expecting additional funds, within the ‘remortgage questionnaire’ you will be asked how much you are expecting and where you would like the additional funds to be sent to you.
The solicitor/conveyancing firm may ask for additional documents, please read the correspondence carefully.
We will check with the solicitor/conveyancer firm that they have received the mortgage offer and your remortgage questionnaire.
Step 3
When you have returned the requested documents to the solicitor/conveyancing firm and are close to the completion date of the remortgage – the solicitor/conveyancer firm will request a redemption statement from your current lender (where applicable).
The solicitor will request funds from your new lender and redeem your existing mortgage. Please note: Remortgage figures aren’t exact and typically there will be a small surplus or deficit, you will be sent a completion statement prior to the completion date.
Step 4
After completion, the lender will write to you with a welcome letter/pack and within this you’ll be advised when and the amount of the first payment due to the lender. You will be given at least 10 workings days’ notice are required by the direct debit guarantee.
Please be aware
The solicitor/conveyancer firm represent the lender on the legal side of the transaction and needs to recommend the property as adequate security from a legal prospective in line with the lenders handbook.
We will assist in chasing the solicitor/conveyancer firm however your involvement will be required to provide a smooth process.