Our team of remortgage solicitors has helped many people, just like you, remortgage their home successfully. With decades of experience, our expert lawyers are here to help you get the right deal for you.
Remortgaging your home is a complicated matter, and it is very important you get the appropriate help and advice to ensure you have all the information you need to make the right decision. We boast an expert team of solicitors to guide you through the remortgaging process. We are also experienced in acting for buy to let and limited company clients.
Give our knowledgeable and dependable team of remortgage solicitors a call today on 0808 168 5643 or request a call back and we will be in touch at a time convenient to you.
What is remortgaging?
Remortgaging is the process of switching your home loan from one mortgage product to another. The primary reason people do this is so they can take advantage of better deals on their mortgage repayments. Usually, switching mortgages results in a deal with much lower interest rates than they are currently paying.
On occasion, people change mortgages because they want to pay off their mortgage sooner, or extend the time it will take to pay off their mortgage.
Why remortgage?
Remortgaging has numerous benefits, it allows you to:
- Take advantage of an improved interest rate, if you bought your property at a poorer interest rate
- Change the way you repay your mortgage to take advantage of more favourable terms – for instance, tracker or variable rates
- Get access to funds if the equity of your property has increased
Here's what sets Ramsdens Solicitors apart
We recognise that the two most important matters to our clients when buying or selling a property are to be kept informed of progress, and for things to be done as quickly as possible. To meet these requirements, our conveyancing solicitors are committed to keeping you fully informed throughout your transaction.
24/7 case tracking with our e-conveyancing service
You can keep track of your case 24/7 with our interactive e-conveyancing service and our unrivalled investment in online access to title deeds, personal searches and direct computer links to the Land Registry.
Recognised excellence
We have been recognised as a ‘Leading Firm’ in the 2024 edition of the prestigious Legal 500. We work tirelessly to provide you with the support you need in sometimes difficult and stressful times. We are rated as ‘Excellent’ on Trustpilot and are recommended by 9/10 of our clients on Review Solicitors.
Award winning conveyancing specialists at your service
Our conveyancing specialists support clients right across the UK. With experts operating nationally, we can provide a wide range of personal and business legal support. Whatever guidance you may need, Ramsdens Solicitors has a team of award-winning legal experts to help guide you.
With Ramsdens, you can guarantee that you will receive:
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Interactive online case tracking: allowing you to track the progress of your transaction online at any time of the day or night.
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Access to Ramsdens’ conveyancing experts: you will be given direct email and contact numbers for the Conveyancer working for you, so if you have any questions, we are on hand to help.
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A committed and experienced team: we take things personally and treat each house move as if it were our own. You will always be kept informed of progress and your transaction will be completed with minimum fuss by experienced professionals.
The expertise of our team is widely recognised, and they have received many accolades, including:
Accredited member of the Law Society’s Conveyancing Quality Scheme
Winners of the ‘Conveyancing firm of the year – National’ at The British Conveyancing Awards 2024
Frequently asked questions
The process for extending a lease can be complicated and require insights from a legal expert. We have outlined the process for how you should go about requesting a lease extension below.
- Step 1: Inform the freeholder of your wishes to extend the lease and that you will be pursuing the statutory route
- Step 2: Appoint a lease extension solicitor
- Step 3: Speak to an enfranchisement valuation surveyor who has expertise in leasehold extension legislation and the local property market
- Step 4: Your lawyer will make a formal offer to extend the lease by serving a “Section 42 Notice” on the landlord (and all other relevant parties)
- Step 5: The landlord will serve a counter notice either approving the tenants right to extend the lease, or denying it. The landlord may at this state make a counter offer. The tenant will be required to pay the deposit if one is requested by the landlord. This will either be £250 or 10% of the lease cost in the tenants’ notice, if that exceeds £250.
- Step 6: If necessary, negotiate the premium with the landlord, using the valuers expertise if required
If the freeholder does not accept the amount you have offered to extend the lease, then you will need to negotiate. If an agreement cannot be reached, you may have to apply to the First Tier Tribunal (Property Chamber).
Although cases progressing to the tribunal are uncommon, they can be time-consuming and costly.
If the landlord is agreeable to proceed with a Voluntary lease extension there is no requirement for you to have owned the property for any specified period of time.
Your eligibility to extend a lease using the statutory system is determined by reference to a number of strict legal requirements that differs depending upon the type of property in question. We have outlined advice on these below.
Flats and apartments: A qualifying tenant of a flat can extend their lease if they have been the legal owner for a period of at least two years, and the initial period granted under the lease was above 21 years. Eligible tenants can apply for a lease extension of up to 90 years.
Houses: Similar criteria exists for houses, provided there is the right to purchase the freehold. Unlike leasehold extensions for flats, the maximum for a new lease for houses is 50 years. There are statutory provisions allowing leasehold house owners to purchase the freehold of their property, which may result in a more valuable ownership, making the property more marketable. If you own a leasehold house, please seek legal advice before extending the lease.
Our experienced lease extension solicitors can help you to identify whether you qualify for a lease extension.
The process of extending your lease could take between three and twelve months depending on the negotiations involved, and the efficiency of the professionals.
