This depends on the identity of the Lender. Some Lenders utilise either title or search insurance with a re-mortgage transaction which drastically cuts down the timescale for completing matters. If title/search insurance is utilised then completion generally can be effected within 3 to 4 days of the offer being received depending on the ability of the Lender to issue the funds. If title/search insurance is not available then completion will happen within a short period of time following the receipt of the search results.

Our fees are generally fixed for a re-mortgage transaction. Currently these stand at £225.00 plus VAT and disbursements. Detailed quotations regarding fees are readily available by contacting the re-mortgage team at Browell Smith & Co.

When we receive instructions a number of forms are sent out with the initial correspondence. One of these forms requests details as to how any balance monies due are to be repaid following completion. This can be to a nominated third party by way of either cheque or telegraphic transfer. We are extremely flexible and the re-mortgage team are always available to help regarding the payment of monies on completion.

Lenders are frequently quite flexible when it comes to customers making payments under their new mortgage. Some Lenders however insist on a fixed date for payment. We can ascertain on your behalf from the Lender the date that payments are to be made to the Lender and we can put forward any special requests regarding payment on your behalf.

Not surprisingly most people are concerned that on completion of their re-mortgage a further payment is not made to their lender in respect of the mortgage that has been re-paid. The re-mortgage team will liaise directly with all new borrowers as to when to cancel any direct debit/standing order arrangement with the old lender to ensure that no further payments are made to that account.