RE-MORTGAGING YOUR HOME

Re-mortgaging means replacing the existing mortgage on your property with a new one. People re-mortgage their properties all the
time for a whole host of reasons. The mortgage market is very competitive and you may have sourced a lower rate of interest
that can reduce your monthly payments, wish to consolidate several loans into one payment, or you may be borrowing more than
your present mortgage to pay for home improvements or a family holiday.

PRELIMINARIES

We will write to your present lender and ask them for a Mortgage Redemption Statement for your property. At the same time we will
send off your Local Authority search and any other necessary searches. During this time you should have made an application
for a new mortgage.

MORTGAGE OFFER

Once your new mortgage application has been finalised a Mortgage Offer will be issued. Where your lender allows we will use a local
search Indemnity Policy rather than full searches. This keeps costs to a minimum and allow early completion. An Indemnity Policy
provides cover should something be found to negatively affect the value of a property whilst searches asses potential risks
which are then reported to yourself and your new lender.

COMPLETION DATE

A completion date is arranged for the earliest possible date and the Mortgage Deed sent to you for signature and return. We will
also ask your current lender for a Mortgage Redemption Statement so we have the exact figure owing to your existing lender.

COMPLETION DAY

As soon as we have received the money from your new lender we will send the amount owing to your existing lender in order to pay
off the mortgage. Any balance due to you will be sent to you the same day.

POST COMPLETION

We will send the Mortgage Deed to the Land Registry so they can amend and update their records.