Remortgaging a House: A General Outline of the Process
What We Will Do
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What You Need To Do
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What Your Lender Does
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Once we have been instructed by you, the client, Cunningtons will:
- Obtain your title deeds
- Obtain up to date copy of the title from HM Land Registry;
- Deal with various searches and enquiries and check results;
- Receive mortgage offer from your lender;
- Send mortgage deed to you for signature;
- Arrange to drawdown the new loan;
- Obtain an up to date redemption statement from existing Lender;
- Provide a Financial Statement setting out funds due to you (or from you);
- Conduct final Land Registry searches.
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- Instruct Cunningtons;
- Forward any title deeds;
- Return all documentation received by your mortgage lender ensuring that it is signed;
- Arrange for both building insurance and life cover in readiness for exchange of contracts;
- Sign the mortgage deed and return it to your solicitor;
- Make any alterations required to insurance arrangements.
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- Send us the title deeds if held;
- Advise us of current redemption amount.
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Completion
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Completion
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Completion
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- Receive mortgage advance and redeem existing mortgage;
- Account to you for any balance of funds;
- Register re-mortgage at HM Land Registry.
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- Cancel any Direct Debit instructions with the existing Lender;
- Ensure new buildings insurance arrangements are in place.
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- Send mortgage advance;
- Your existing Lender will produce evidence of discharge upon receipt of funds.
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Rider : the above is a general outline only, as each transaction has unique requirements.
