Remortgaging and Equity Release
Remortgaging involves paying off your existing mortgage with funds provided by a new mortgage lender. This is often done to release some equity from your property or to secure a better rate of interest.
How we can help
As part of the process, we will be required to check your legal title to ensure that it is good security for your new lender and to rectify any issues. Most lenders allow us to take out Search Insurance rather than carrying out a full set of legal searches and we can advise you on this once we know who your lender is.
Equity Release is aimed at people over the age of 55 and is often used to release funds to make home improvements, help members of your family or to provide money to enable you to enjoy your retirement.
You will initially be visited by a representative from the mortgage provider or an independent financial advisor and once you are happy to proceed, a mortgage offer will be issued to us.
At that stage we will provide you with a full written report advising you of the terms and conditions of the offer and will invite you to the office for a face to face meeting to discuss the report and answer any questions you have.
Transfer of Equity
This is a transaction where property ownership changes hands. It will take place if a property owner wishes to add another person (perhaps a spouse or child) to the legal title or equally, if two or more property owners wish one of the existing owners to be removed from the title deeds.
In the case of the existing owner being removed from the title deeds, a Transfer is often accompanied with a Remortgage whereby the current mortgage is paid off and the new mortgage set up in the new names of the owners.
Following matrimonial proceedings, we can liaise closely with matrimonial solicitors to ensure that any Consent Order is implemented.
How we can help
If the property is subject to an existing mortgage, you will need to ensure that the lender consents to the transfer and we will liaise with them as necessary.< Back to Residential Property Solicitors
‘We have previously used Hatch Brenner for house sale, flat purchase and equity release. All very satisfactorily and would not wish to use any other firm of solicitors.’
‘Everything explained very clearly and all issues dealt with quickly. It was nice to know that I could contact the firm at anytime for help. Highly recommended.’
Please contact one of the team to discuss your specific requirements.