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.
Leanne Attenborough
Catherine was brilliant always available to answer questions and made the process really smooth! Thank you! Leanne and Tom
daniel potter
The whole process went smoothly, so I had minimal need to contact the solicitors throughout. Everything I needed to do was explained clearly, and the process was straightforward from start to finish. A special thanks to Craig for making everything easy and stress-free. I’m really happy with the service provided and would happily recommend them to others.