Remortgaging
So what do you need to know before you seriously consider remortgaging?
The first step is to call and Malone Financial Services can advise you on the most suitable remortgaging options. Your advisor will work with you to check the terms and conditions of your existing mortgage. These will tell if you are tied-in to your mortgage deal or if there are any early repayment charges. You can then decide if it is worth switching to a different rate or stay put until the penalties have expired.
Other Mortgage Services
You will be guided through the whole remortgaging process, which will include:
• An early repayment statement will be needed from your existing lender telling you how much you owe.
• An application form from your new lender will need to be completed, along with details of your income and proof of your identity
• Your new lender values your home
• Subject to all the paperwork being satisfactory, the lender will issue a mortgage offer which will contain the amount of the mortgage and the terms that they will offer you
• Solicitors will need to be instructed at this point to arrange the legal documentation, leading through to completion of the loan
The whole process should take about 4 – 6 weeks to complete however this may vary from customer to customer.
Once you have received a completion statement from your solicitor or new lender, the process has finished and your new mortgage is in place.
