Remortgaging? We're Here to Help
Switching lenders or securing a better deal? Our specialist conveyancing team has you covered from application to completion.
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What Is Remortgaging?
Remortgaging means replacing your existing mortgage with a new one, either with your current lender or a different one. Most people do this when their current deal is ending, to avoid rolling onto a higher standard variable rate, though many also remortgage to release equity, consolidate borrowing, or switch to better terms. Behind the scenes, remortgaging is still a genuine legal process: your existing mortgage needs to be redeemed, a new legal charge registered against your property, and any lender requirements properly dealt with, which is where a specialist conveyancing solicitor comes in.
We are automating: Our systems just got 50% faster, so you can move through your remortgage without unnecessary delays.
Our dedicated remortgage team provides expert guidance through every step of the process, ensuring a smooth experience
We keep customers connected: Customers can be in control of their case through our portal, app and Alexa - 7 days a week
We provide quotes 7 days a-week: Customers can get a quote any day of the week.
PLS 24/7 Portal speeds up the process for customers: Customers can track every stage of their remortgage from application to completion.
We are on every lender panel: This gives customers the advantage of securing their mortgage with any lender they choose
Why should I Remortgage?
There are four key reasons to remortgage your property:
If you are paying a high interest rate - Switching to a fixed or tracker interest rate on your mortgage could lower your monthly payments and help you pay off your mortgage sooner.
You want to pay off your mortgage early - By switching to a mortgage that lets you make over-payments you can pay off your debt earlier than your original term.
Your current mortgage deal ends soon - If your deal ends soon then you can move to the lender’s standard variable rate. This rate is often higher and so this is a good opportunity to look for better deals.
Your property has increased in value - Remortgaging can allow you to borrow for home improvements, further increasing your property’s value. A lower loan to value ratio might mean you meet the criteria for a wider range of interest rates.
How does the Remortgage process work?
Considering your financial situation as a whole is vital in the remortgage process as well as understanding what happens when you remortgage. There are four key steps:
Complete an Agreement in Principle - Most lenders will let you get an online Agreement in Principle in order to see if a lender is willing to lend you what you need. This will help you understand your options without choosing a specific deal.
Considering the costs - It is important to make sure that a remortgage will leave you in a better position. Therefore, it is essential to consider costs such as application fees and valuation fees in the process.
Applying for a new mortgage - Once you have your Agreement in Principle, you can now apply for a new mortgage. You will be asked for various personal and financial information in addition to the details of your current mortgage.
Completing your remortgage - Your new lender will carry out a credit check and arrange to have your property valued. PLS can help you with the transfer of your mortgage and complete the process.
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Our experience with PLS, particularly Matt Howard, has been nothing short of fantastic. After what has been such a stressful transaction, thanks to our Buyer's Solicitors, Matt has worked tirelessly to get both our Sale and Purchase properties over the line and in record time at that! A massive thank you to Helena Brady too who stepped in whilst Matt was on annual leave and kept us fully updated as to the progress on both files. Thank you for all your hard work. I know its been incredibly frustrating at times dealing with other Law Firms who are just not as pro-active and on the ball as PLS, but we got there in the end, thanks to your hard work! We cannot thank you enough and would reccomend Matt to anyone looking for a Conveyancer who will guide them through a sale or purchase transaction.
Amit Bhan
It was my first experience and was very nervous about selection of solictors, however my friend referred me to PLS. The entire experience has been very professional and support has been exceptional from every member i dealt with, special thanks to Gemma for her focussed attention for the case and handling countless queries from our end. This has been truly great experience with ps and would highly recommend them as true professionals
MISS A OMALLEY
Smooth experience with PLS , responses to calls and emails very quick, all agents i dealt with very as informative and supportive as possible
Rohan Nair
Very responsive Lisa Cullen was thorough and methodical and talked me through the entire process No delays from their side in any of their deliverables
Ashraf Hamdona
great service, friendly staff, made my house purchase an easy process and stress free.
Iggy Mukzig
Amazing work by Jacob. Very Efficient and supportive. We are very happy with the service .