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Checking the title
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Checking the title
Making sure your ownership is registered correctly with the Land Registry.
Call 01483 451900 or make an online enquiry and one of our solicitors will be in touch.
Residential Property
Remortgaging or Refinancing
Many homeowners remortgage at some point, whether to get a better interest rate, release equity, or move onto a fixed deal for peace of mind. Others refinance as part of wider financial planning. Whatever the reason, it’s important to make sure the legal side is handled properly so there are no delays or surprises.
At Gordons Partnership, our residential property team helps clients through the remortgaging and refinancing process. We liaise with lenders, check the small print, and make sure everything is in place for a smooth transition.
What Is Remortgaging?
Remortgaging simply means switching your mortgage from one lender to another. Some common reasons include:
- your current fixed deal is ending and you want to avoid moving to a higher variable rate
- you’ve found a better deal elsewhere and want to save money
- you want to release equity from your home for renovations, investments, or family support
- you want to change the type or length of your mortgage
What’s Involved in Refinancing?
Refinancing usually means rearranging your existing finance rather than just switching lenders. It can involve:
- restructuring your mortgage with the same lender
- combining multiple loans or mortgages into one
- refinancing as part of a wider property portfolio strategy
The legal work is similar to remortgaging, but often requires closer coordination with financial advisers, accountants, or portfolio managers.
The Legal Process
When you remortgage or refinance, there are a few key steps we take care of:
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2Redeeming the old mortgage
2Redeeming the old mortgage
Paying off the existing loan in full
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3Reviewing the new mortgage
3Reviewing the new mortgage
Checking the lender’s offer, requirements, and conditions.
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4Liaising with the lender
4Liaising with the lender
Ensuring funds are released on time.
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5Registering the new mortgage
5Registering the new mortgage
Updating the Land Registry with the new lender’s details.
Common Issues We Resolve
Most remortgages are straightforward, but issues can arise. By acting early and keeping everyone informed, we help avoid unnecessary delays. We regularly deal with:
- Leasehold requirements – some lenders require confirmation of ground rent and service charges.
- Title problems – spotting and fixing errors in the Land Registry before they cause hold-ups.
- Second charges – dealing with additional loans secured on the property.
Why Clients Choose Gordons Partnership
Remortgaging might not be as stressful as buying or selling, but it’s still important to get right. Clients choose us because we:
- explain the process clearly and in plain English
- deal directly with lenders to keep things moving
- identify potential issues before they cause problems
- keep you updated so you know where things stand
- act quickly to complete within deadlines
Case Examples
Helping a client switch lenders to secure a lower fixed rate before interest rates rose.
Acting for a family releasing equity to help their children buy their first home.
Resolving a title error at the Land Registry that would have delayed refinancing.
Supporting a landlord refinancing a small portfolio of leasehold flats.
Frequently Asked Questions
Do I need a solicitor to remortgage?
In most cases, yes. The lender will usually require a solicitor to handle the legal work.
How long does remortgaging take?
Typically 4-8 weeks, but it depends on how quickly the lender issues the mortgage offer, searches are returned and whether there are any title or lease issues.
Will I have to pay stamp duty?
Generally, no. Stamp duty only applies to property purchases, not remortgages. However, we will look at your individual circumstances before giving advice.
Can I remortgage if I live overseas?
Yes, although lenders may have extra requirements. We act for many international clients and make the process straightforward.
What if my lease is short?
If your lease is running down, some lenders may refuse to offer a mortgage. In that case, we can advise on extending your lease at the same time.
Meet our Residential Team
If you need advice on any residential matter, please do not hesitate to contact our residential team.
Speak to Our Residential Property Team
We know refinancing can feel like a box-ticking exercise, but delays or oversights can be costly. That’s why we take a proactive approach, keeping lenders moving, updating you regularly, and resolving issues early.
If you are remortgaging or refinancing, our team can guide you through the process.
Gordons Partnership – clarity and confidence in legal advice, from people you can trust.
