Mortgages and re mortgages

Whether you are taking out a mortgage to fund the purchase of your new property, considering re-mortgaging your current property to release capital or you are granting a loan to a family member and taking security by way of a mortgage, you will require a solicitor to act your behalf and deal with the legal paperwork and formalities.

There are various legal aspects to taking out a mortgage, whether that be reporting to you on the legal implications of entering into a mortgage or reporting to your lender as to whether the property is good and marketable and there are no issues that adversely affect the value of it.

We will guide you through each step of the process and ensure that any potential issues are dealt with promptly and practically.

 

Below is a brief outline of the work we typically carry out in these matters:

  • Obtaining official copies of title from the Land Registry together with any ancillary deeds or agreements.
     
  • Liaising with your original lender and/or new lender (as the case may be) in relation their specific requirements.
     
  • Applying for the searches required by the lender; such as the local authority, drainage and water, environmental and chancel repair.
     
  • Assessing the mortgage documentation and reporting on their contents and the implications.
     
  • In the case of you granting a loan to a family member, we draft the legal paperwork required to effect the loan and legal charge over the mortgagor’s property.
     
  • Reviewing and analysing the title documentation, search results and ancillary documentation (for example planning permissions), liaising with the client and the lender in respect of any potential problems and recommending solutions.
     
  • Reporting to the lender on the results of our searches, title and ancillary documentation.
     
  • Carrying out the pre-completion searches.
     
  • Registering/Discharging the mortgage at the Land Registry (as the case may be).