0333 323 5292
|Your Needs|Residential Property|Remortgaging

Related Pages

Investors & Developers
Leasehold Property
Residential Property Pricing Transparency

Residential Property Solicitors for Remortgaging

It’s often a fairly straightforward process, but unfortunately it gets more difficult at the times when you most need to remortgage due to struggling household finances.

Our residential property solicitors are here to help you navigate those turbulent waters and make remortgaging a smoother ride. You can call our remortgaging solicitors in York, Leeds and Sheffield on 0333 323 5292 or fill in the contact form on this page for a prompt reply.

Remortgaging Explained

Remortgaging is quite simply the process of switching from your current mortgage to a new one. That can give you access to new fixed rates and capped rates, other incentives, or allow you to remortgage at a lower interest rate if your loan-to-value ratio is lower.

By definition remortgaging means you have already been through the process of getting a mortgage once, so it can be a much less stressful process than being a first-time buyer.

However, it is also often used to tackle financial difficulties and ultimately avoid repossession, so it’s important to seek legal advice if you are not sure about any part of the process, or you just want to make sure you get it right.

Contact Us Today

Fill in the enquiry form or use the direct details below to speak to our residential property solicitors in Sheffield, York and Leeds about remortgaging.

News featured image

Lupton Fawcett Leads the Way with Leasehold Homeowner Support

Lupton Fawcett, Leeds, Sheffield and York-based law firm, has welcomed moves by the Government to reconsider the selling of leaseholds on new build homes, a practice that is seeing thousands of homeowners burdened with ever-increasing ground rents.

Pencil iconBy Lupton Fawcett

Most Popular Questions

What are the main reasons to remortgage?
I’m self-employed. Can I still remortgage?
Can I remortgage in negative equity?

Related Blog Posts

Adverse Possession

The End of Section 21 Notices?

The government have recently announced plans to abolish the practice of landlords serving tenants Section 21 notices in order to address the uncertainty that tenants in

Pencil iconBy Rob Cooke on 3rd May 2019
What Residential Landlords Need To Know about the Small Business, Enterprise and Employment Act 2015

Property Auctions – A buyer’s guide.

Buying a property at auction is becoming more and more popular. Over 3000 residential properties were sold across the UK in 2016 by auction and the figure

Pencil iconBy Richard Baum on 9th January 2019
Adverse Possession

Preparing for changes to HMO Licensing

Mandatory licensing will no longer be limited to certain HMOs that are three or more storeys high, but will also include buildings with one or

Pencil iconBy Daniel Edwards on 24th August 2018
Adverse Possession

Invalid Section 21 notices and Gas Safety Certificates – landlords beware

A London County Court recently decided that a failure to serve a gas certificate on a tenant was an absolute bar to the landlord recovering

Pencil iconBy Daniel Edwards on 19th June 2018
Adverse Possession

More legal challenges ahead for residential landlords

As landlords and letting agents should already be aware, a draft Tenant Fees Bill was published at the end of last year.

Pencil iconBy Daniel Edwards on 8th February 2018
What are the land purchase options for housebuilders and developers?

Developers and sites for residential development

The demand for housing has led to many Local Authorities revising their planning policies on Greenbelt Land and particularly those near existing towns and settlements.

Pencil iconBy Rob Cooke on 28th September 2017
Adverse Possession

My commercial tenant has not paid its rent

It is important for the Landlord to think through all of the options available and what they want to ultimately achieve.

Pencil iconBy Rob Cooke on 7th August 2017
What Residential Landlords Need To Know about the Small Business, Enterprise and Employment Act 2015

Leasehold Property – what do I need to know?

We have seen much commentary recently about Leasehold property, particularly with regards to new – build homes. But what if you are buying a leasehold property,

Pencil iconBy Lupton Fawcett on 2nd August 2017
What Residential Landlords Need To Know about the Small Business, Enterprise and Employment Act 2015

Commonhold – Could it be the answer?

Last week saw the government pledge a clampdown on the ‘leasehold housing scandal’ and the Sunday Times reported how the answer could lie in the

Pencil iconBy Richard Baum on 1st August 2017
What Residential Landlords Need To Know about the Small Business, Enterprise and Employment Act 2015

Buying the freehold to your property

Residential Property expert, Sarah Sargent, guides you through the process of buying the freehold to your house.

Pencil iconBy Sarah Sargent on 27th July 2017
What Residential Landlords Need To Know about the Small Business, Enterprise and Employment Act 2015

Restrictive Covenants

At a time when development for residential housing continues to be at the forefront of the political agenda, you might be considering whether your land

Pencil iconBy Kirsty Barsby on 26th July 2017
What Residential Landlords Need To Know about the Small Business, Enterprise and Employment Act 2015

Guide to buying a New Build

With the Government’s push to have one million homes built by 2020, how can you ensure that you are buying a quality product?

Pencil iconBy Sarah Sargent on 21st June 2017
See All Posts
See All Posts

Why Choose Lupton Fawcett?

Having advised and supported many local families, individuals and businesses, we are proud to offer clients a dedicated service from specialist solicitors who are experts in their field:

We're Award Winning

We were awarded the Legal 500 HR/Employment Law team of the year in 2017

We're Connected

We're connected to the people, businesses and infrastructure throughout Yorkshire

We Put You First

You can be sure to expect superb client service from us. Our clients are our priority

We're accredited

Recognised by leading Legal Directories Chambers & Partners and the Legal 500

Frequently Asked Questions

Can I remortgage in negative equity?

Negative equity, usually caused by falling house prices, is where you owe more on your current mortgage than the expected selling price of the property would raise.

This can make it much more difficult to remortgage as the property is not seen as economically viable. However, some lenders cater for this niche market, while your existing lender might have options available to help you reduce your monthly repayments if you are struggling.

I’m self-employed. Can I still remortgage?

In most cases being self-employed in itself is not a barrier to being able to remortgage, but it might reduce the number of mortgage products available to you.

By seeking legal advice you can make sure that your employment status is correctly registered and that the mortgage you choose is suitable, so there is less risk of being declined or of disputes arising later on.

What are the main reasons to remortgage?

People remortgage properties for a variety of reasons. Some common reasons to remortgage include:

  • Remortgaging to a lower interest rate or a new fixed-rate mortgage.
  • Remortgaging to release equity for a purchase or to pay off other debts.
  • Remortgaging to release capital gains due to rising property prices.

Usually it is either about paying less or releasing equity – just remember if you remortgage to release equity from your property, you will usually have to pay it back before you will own the property outright.

Get In Touch Today!

Get In Touch Today!

Please complete this form to make an enquiry and we will get back to you as soon as we can.

Remember you can still call us on 0333 323 5292 or email us at law@luptonfawcett.law

  • This field is for validation purposes and should be left unchanged.