A remortgage (also known as refinancing) is the process of paying off one mortgage with the proceeds from a new mortgage. There are various reasons for remortgaging but the most common reasons are for the purpose of switching to secure a more favourable interest rate from a different lender or to release some equity from the property.

Homeowners often mis-use the expression remortgage when they are simply switching from one product to another with the same lender; this is not a remortgage and can be dealt with directly with the lender.

Before instructing a solicitor to act for you on behalf of a remortgage it may be worth checking whether your lender offers free 'in-house' legal assistance. If not, we will be more than pleased to assist you.

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The Residential Property team at Fosters Solicitors have a wealth of experience and knowledge to assist you in relation to any legal property query or matter you may have. Call us on 01603 620508 or complete our and a member of the department will be in touch very soon.