Remortgaging Your Property

Our Solicitors at Tollers have a vast amount of experience acting for clients in the remortgage of their properties, whether taking a mortgage over an un-mortgaged property or remortgaging an already mortgaged property.

Most mortgage lenders will offer a fixed interest rate period of up to 5 years and it is important that you consider remortgaging your property at the end of the fixed rate period to take advantage of any special deals provided by other mortgage lenders.

Most lenders will require you to pay an early redemption penalty if you redeem your existing mortgage within the fixed rate period so it is important that you take this into consideration if you decide to remortgage your property during a fixed rate period.

Remortgage Process

Once you have instructed Tollers to act on your behalf your mortgage lender will provide Tollers with a copy of the mortgage offer, this will differ slightly in the copy of the offer sent to you and may contain conditions that Tollers are required to advise you or the lender on, it will also contain the Mortgage Deed and the Certificate that we are required to submit to the lender requesting the mortgage monies.

We will obtain a copy of the legal title to ensure there is nothing contained in the title that may have an impact on the lenders security, for instance a lack of right of way or arduous restrictive covenants.

If there is a mortgage already registered against the property Tollers will apply for a redemption figure from the existing lender to ensure that sufficient funds are being borrowed from the new lender to redeem the existing mortgage.

We will provide you with a draft completion statement as soon as we receive the redemption figure and the mortgage offer.

It may also be necessary to apply for and obtain the result of a Local Search prior to completion of the new mortgage, again, this is to ensure there is nothing contained within the result of the Local Search that may impact on the lenders security, for instance a roadway serving the property that has not been adopted by the Local Authority.

As your remortgage solicitor, Tollers will need to report any such matters to the mortgage lender and obtain their consent to proceed prior to draw down of funds.

Once all conditions in the mortgage offer have been satisfied, Tollers will provide a report on the mortgage offer and notify you of any matters that you need to be aware of, we will also send the Mortgage Deed to you for signature. You will need an independent, unrelated adult witness to your signature on the Mortgage Deed.

When the Mortgage Deed has been signed, we will then submit the Certificate to the lender requesting the mortgage advance, this is called ‘draw down of funds’. Please note that most lenders will require up to 7 working days to draw down the funds, we will also obtain an up to date redemption figure.

Prior to drawn down of funds the completion date will be agreed with you and on the day of completion we will receive the mortgage advance from the lender, redeem any registered charge and forward the balance (if any) to you.

We will keep you updated throughout the process and a member of Tollers Conveyancing team will be on hand for any queries that may arise during the transaction.

Talk to Tollers

Our remortgage solicitors can assist with the legal requirements as the mortgage lender will often require you to obtain independent legal advice and appoint a remortgage Solicitor to act on behalf of you and the mortgage lender, they will also require a Solicitor to certify the legal title and register their mortgage over legal title to provide them with the security they require. We will provide you with a competitive quote and our instruction pack and we will also verify your identity to comply with the Land Registry’s strict identification requirements to prevent property fraud. For more information, get in touch with one of our team of experts today. 

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Our Remortgaging Your Property Experts

Charles Mellor
Welcome Team Assistant
Charles works in Residential Conveyancing in the Milton Keynes Welcome Team. He is the first point of contact for clients looking to buy, sell, remortgage or transfer equity of a property...
Beverley Baggott
Conveyancing Assistant
Beverley worked for the old BBW Law (then Chaundler & Son) since leaving school, starting off as receptionist then progressing to secretary to various people before taking on her present role...
Holly Preston
Welcome Team Assistant Conveyancing
Having worked as a general office assistant for 4 years Holly is happy to be progressing her career in the conveyancing department...
Alison Peach
Assistant Conveyancer
Alison has worked in the law for 25 years, first as a secretary and assistant whilst she studied with CILEX. Alison has been dealing with her own matters for the last two years...
Heather Mayes
Conveyancing Manager / Conveyancer
Heather has worked in residential conveyancing for over 25 years and joined Tollers LLP in August 2019...
Zoe Thrift
Conveyancer
Zoe joined Tollers in 2014 having worked for law firms in Luton, London and Milton Keynes...
Wayne Bedding
Conveyancing Assistant
Wayne has over 20 years of experience in conveyancing and started his career at Tollers in May 2014...
Tracy Cousner
Conveyancing Assistant
Tracy joined Tollers in 2014 in Residential Conveyancing and assists the Team with not only purchases and preparation of completions...
Sian Evans
Solicitor
Sian has worked within the field of conveyancing for approximately 16 years and was admitted to the Roll of Solicitors on 1 st April 2002...
Robert Kasasian
Trainee Solicitor
As a trainee solicitor, Robert currently works in the residential conveyancing department and assists experienced staff...
Mandy Stark
Partner and Head of Residential Conveyancing
Mandy joined Tollers in February 2015 and is responsible for compliance for the residential property department. All eight offices and over 20 members of staff...
Louise Wilson
Conveyancer
Louise joined Tollers in January 2012 and undertakes the day to day running of property sale and purchase files...
Lindsey Lilley
Conveyancing Assistant
Lyndsey has 25 years’ experience working in a legal environment, with over 20 years spent in dealing with all aspects of residential conveyancing...
Lynsey Green
Conveyancer
Lynsey is a qualified Chartered Legal Executive currently working as a Conveyancer in the Residential Conveyancing team at Tollers...
Larissa De Oliveira
Assistant Conveyancer
Before joining as an Assistant Conveyancer in 2017, Larissa worked at international and national law firms such as Shoosmiths, Pictons and Brethertons...
Kirsten Blaikie
Assistant Conveyancer
Kirsten Blaikie, Assistant Conveyancer. Based in our Corby office, Kirsten has worked within the conveyancing sector for 5 years...
Khama Langdon
Trainee Conveyancing Assistant
Khama initially started working for Tollers as a Conveyancing Administrator through an apprenticeship. Khama has now been working for Tollers for over 3 years in David Wootton’s team...
Katie Green
Conveyancing Assistant
Katie Green - Conveyancing Assistant. Based in our Corby office Katie supports the Corby team by sending out contract papers to buyer’s solicitors...
Kate Munton
Conveyancing Assistant
Kate started her career at Tollers 25 years ago. In 2001 she joined David Wootton’s conveyancing team...
Jeremy Simmonds
Partner
Jeremy provides Wills and Probate services and Conveyancing to the established and growing client base in Rutland...
Heather Reay
Conveyancing Assistant
Heather joined Tollers in June 1979 and works in the Residential Conveyancing department, dealing with all aspects of conveyancing work...
Francesca Humphries
Senior Associate Solicitor
Francesca is a Senior Associate in the residential conveyancing department, managing a busy team in Corby...
Emily Vitue
Welcome Team Assistant
Emily Vitue works in our Residential Conveyancing department as a Welcome Team Assistant. She is the first point of call for new customers...
Elaine Rae
Conveyancer
Elaine has been with Tollers for 30 years and has specialised in Residential Conveyancing for the majority of that time...
David Wootton
Senior Associate / Conveyancing Manager
David is a Senior Associate and conveyancer at Toller’s with over 30 years of experience in conveyancing...
Angela Aitken
Conveyancer
Angela is a residential conveyancer with over 20 years of experience...
Alex Gill
Conveyancing Assistant
Alex is very settled in her role at Tollers and loves being part of the Northampton Conveyancing team which she has been a part of since May 2017...
Danielle Hull
Conveyancing Assistant / Proclaim Developer
At Tollers, Danielle currently assists the Head of Residential Conveyancing. She is also responsible for the development of the case management system held and operated within the conveyancing department.
Charles Mellor
Welcome Team Assistant
Beverley Baggott
Conveyancing Assistant
Holly Preston
Welcome Team Assistant Conveyancing
Alison Peach
Assistant Conveyancer
Heather Mayes
Conveyancing Manager / Conveyancer
Zoe Thrift
Conveyancer
Wayne Bedding
Conveyancing Assistant
Tracy Cousner
Conveyancing Assistant
Sian Evans
Solicitor
Robert Kasasian
Trainee Solicitor
Mandy Stark
Partner and Head of Residential Conveyancing
Louise Wilson
Conveyancer
Lindsey Lilley
Conveyancing Assistant
Lynsey Green
Conveyancer
Larissa De Oliveira
Assistant Conveyancer
Kirsten Blaikie
Assistant Conveyancer
Khama Langdon
Trainee Conveyancing Assistant
Katie Green
Conveyancing Assistant
Kate Munton
Conveyancing Assistant
Jeremy Simmonds
Partner
Heather Reay
Conveyancing Assistant
Francesca Humphries
Senior Associate Solicitor
Emily Vitue
Welcome Team Assistant
Elaine Rae
Conveyancer
David Wootton
Senior Associate / Conveyancing Manager
Angela Aitken
Conveyancer
Alex Gill
Conveyancing Assistant
Danielle Hull
Conveyancing Assistant / Proclaim Developer
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