Before you remortgage, you should first know about the latest mortgage interest rate, and calculate how much you could save each month with the new mortgage. Through MoneyHero's mortgage comparison page, you could easily find the right mortgage to save money. The next step is to confirm the conditions of remortgaging, make a mortgage evaluation, and look into whether your chosen law firm is on the bank?s list of approved law firms.
Then you can see if your new mortgage is enough to cover the previous mortgage's outstanding balance.
After you've chosen a bank to do the remortgage, you should contact your law firm to check the procedures of remortgaging. The lawyer will extract the property contract from the bank and proceed with land registration.
After the remortgage is approved, your lawyers will check the mortgage balance with the previous mortgage lender and invite you to sign the new mortgage contract and property contract. The new mortgage will be delivered to your previous mortgage lender through the lawyer.