Your remortgage will involve requesting a legal report from the Registers of Scotland. This is in relation to requesting a Personal Search to check you’ve not been declared bankrupt and what proportion each person owns.
We will also obtain a mortgage redemption statement from your old lender. This sets out how much you owe them and whether you must pay exit fees or early repayment charges.
Next, we check the mortgage offer from your new lender, ensure your property meets your new lender’s conditions for lending, and arrange for you to sign the new mortgage deed (also known as a legal charge or standard security).
For certain types of remortgages we need to conduct ID checks. At the end of your remortgage journey we will set a completion date for your remortgage and lastly register your new mortgage in favour of your new lender with the Registers of Scotland.