Re-mortgages

Re-mortgages relate to the situation where you already own your home and maybe have an existing mortgage over the property.  Sometimes homeowners realise that there is a better mortgage deal on the market for them.  The process that follows is known as a re-mortgage.  It involves the homeowner offering the house as security for the new Bank or Building Society and obtaining lending from that organisation and using this lending to repay the existing mortgage.  The reasons could involve the homeowner seeing a better deal on the market or possibly a situation where the fixed term on their existing mortgage is due to expire.  Whatever the situation, if you feel that you would like some advice on a transaction of this nature then please do not hesitate to call our residential property team.

Our  team are also experienced in various other aspects of residential property.  These areas include equity release schemes under which individuals have equity within their home and consider a release scheme as a possible option to release some of that equity for their use.  Whether the query is a re-mortgage, an equity release scheme or a transfer of equity, they all constitute dealings with your home, which is usually your most valuable asset.  As such, these arrangements should not be considered lightly and it is essential that you receive full and clear advice from specialists.  We are happy to assist and we offer a holistic approach in ensuring that if advice is required from other departments then this is provided to you.  An excellent example is coupling advice on property dealings with advice on care fees from our Wills and Estates Department.