Taking out a remortgage on your existing home has many advantages from a financial point of view but the services of an experienced residential conveyancing solicitor are still essential to ensure your interests as the owner are protected throughout the transition from one lender to another.

Depending on the type of mortgage you currently hold and whether you are tied to a particular interest rate, because banks and building societies are regularly introducing new finance products to the market, in most cases householders can reduce their monthly payments by remortgaging.

In some circumstances, for example, if your income increases, you may want to make higher mortgage payments in order to cut the length of the mortgage term.

Re-mortgaging, rather than extending an existing mortgage, is another way of paying for improvement work to your home without necessarily costing you much more in monthly outgoings.

Once you have decided to re-mortgage, to find the best financial deal for your needs at the lowest cost will require much research. Mortgage brokers are specialists in this field and all offer remortgaging quotes from a variety of lenders to accommodate your wishes at no cost to you.

It can also be worthwhile contacting your current mortgage supplier to see if it is willing to move you to a more advantageous deal.

When you've done your sums, if you are happy to go ahead, you should contact a solicitor who is experienced in residential conveyancing for both freehold and leasehold properties.

Although the procedure for a remortgage is simpler than for an original purchase because the title deeds remain in the same name, there are still a number of legal actions which must be taken.

Whether you are staying with your existing lender or going to a new one, a valuation of your home will be needed and a full mortgage application form completed.

Your solicitor's job is then to check the deeds and any other documentation such as charges on the property, conduct local authority searches and act as the intermediary for repaying the existing mortgage and transferring funds for the new remortgage.

Remortgaging a property through Healys of London and Brighton

Healys has a dedicated and experienced team of conveyancing solicitors in London and Brighton who can carry out the detailed work involved in remortgaging cost-effectively and efficiently.

The professional staff understand that with deadlines to be met and a large amount of money involved, you need the peace of mind which comes from using lawyers and ancillary staff dedicated to your needs.

Wherever in the UK you require first-class legal services for conveyancing, Healys' residential conveyancing solicitors will be able to help, giving jargon-free advice at every stage of the procedure and ensuring the transaction will be conducted as quickly and smoothly as possible.

For more information and advice on costs of Healys' remortgaging conveyancing services, please contact us.