If you are happy with the quote supplied and would like Garnett Wilson to act for you, we will ask you to complete, sign and return our re-mortgage information form and arrange for your ID documents to be verified either at our offices, or locally to you. You should then inform your mortgage broker/lender that you have instructed Garnett Wilson to act for you as your conveyancer so that they can send us a copy of your mortgage offer.
When you have received your mortgage offer from your new lender your conveyancer will carry out searches on the property and check the title deed. Your conveyancer will explain the Mortgage Deed to you. Your conveyancer will obtain a redemption statement from your existing lender which notifies them that you wish to repay your existing mortgage. You will be required to sign the mortgage deed.
On the day of completion your conveyancer will receive the money from the new lender and use it to repay your existing mortgage, plus the redemption fees and any administration charges. Your conveyancer will then send you any remaining money due to you. When your existing lender has confirmed that they have received their money, their legal charge can be removed from the deeds of the property.
The Land Registry will update the registered title to show the registration of your new mortgage lender, and we will send you a copy once finalised.