WELCOME TO LYONS BOWE FROME

FROME
REMORTGAGING

Remortgaging a property can be a good way to save money, get some extra funds to re-decorate, or enable you to rent your home out to private tenants. Our FROME remortgaging solicitors will be here to help and support you through every step of the journey.

Welcome to Lyons Bowe! We’ll be in touch soon to say hello!

We are currently reviewing the property’s title documents.

Congratulations! You’re officially the owner of your new property!

Staff Jade Doherty
5/5

Quick to respond, love the app which enables us to track for any progress or updates. Would recommend and love that they are local. Very impressed!

KAITLYN, REVIEW SOLICITORS

HOW WE CAN HELP WITH
YOUR FROME REMORTGAGE

There are many reasons why you might be looking to remortgage. Luckily, we’re on hand to help with all of them.

MORTGAGE
TERM ENDING

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RELEASING FUNDS TO DECORATE

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CONVERTING TO A BUY
TO LET MORTGAGE

MORTGAGE
TERM ENDING

two rings icon

RELEASING FUNDS TO DECORATE

sofa icon

CONVERTING TO A BUY
TO LET MORTGAGE

MORTGAGE
TERM ENDING

two rings icon

RELEASING FUNDS TO DECORATE

sofa icon

CONVERTING TO A BUY TO LET MORTGAGE

HOW DOES
REMORTGAGING WORK?

1. TITLE DEEDS AND REDEMPTION STATEMENT

Your solicitor will request copies of the property’s Title Deeds, and a redemption statement from your mortgage lender. The redemption statement confirms how much of the mortgage is still outstanding.

2. REVIEW NEW MORTGAGE TERMS

Your solicitor will review the terms of your new mortgage agreement and let you know if there are any specific restrictions or covenants.

3. RECEIVING FUNDS FROM NEW LENDER

We will receive funds from your new lender, and pay off the outstanding balance on your existing mortgage. We will then issue with a completion statement. This will outline any money that you still owe, or money that you are owed.

4. UPDATE THE LAND REGISTRY

Your solicitor will then update HM Land Registry to reflect the change in lender.
open padlock

HOW DOES
REMORTGAGING WORK?

1. TITLE DEEDS AND REDEMPTION STATEMENT

Your solicitor will request copies of the property’s Title Deeds, and a redemption statement from your mortgage lender. The redemption statement confirms how much of the mortgage is still outstanding.

2. REVIEW NEW MORTGAGE TERMS

Your solicitor will review the terms of your new mortgage agreement and let you know if there are any specific restrictions or covenants.

3. RECEIVING FUNDS FROM NEW LENDER

We will receive funds from your new lender, and pay off the outstanding balance on your existing mortgage. We will then issue with a completion statement. This will outline any money that you still owe, or money that you are owed.

4. UPDATE THE LAND REGISTRY

Your solicitor will then update HM Land Registry to reflect the change in lender.
open padlock
open padlock

HOW DOES
REMORTGAGING WORK?

1. TITLE DEEDS AND REDEMPTION STATEMENT

Your solicitor will request copies of the property’s Title Deeds, and a redemption statement from your mortgage lender. The redemption statement confirms how much of the mortgage is still outstanding.

2. REVIEW NEW MORTGAGE TERMS

Your solicitor will review the terms of your new mortgage agreement and let you know if there are any specific restrictions or covenants.

3. RECEIVING FUNDS FROM NEW LENDER

We will receive funds from your new lender, and pay off the outstanding balance on your existing mortgage. We will then issue with a completion statement. This will outline any money that you still owe, or money that you are owed.

4. UPDATE THE LAND REGISTRY

Your solicitor will then update HM Land Registry to reflect the change in lender.

THE LYONS BOWE
APP

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LYONS BOWE APP

DIGITAL
FORMS

Our digital forms let you complete, sign, and return your forms from the comfort of your own phone in minutes. Whether you’re completing your contents form over coffee, or your source of funds on the sofa, buying and selling property’s never been easier.

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LYONS BOWE APP

PERSONAL
TO DO LIST

Your personal to do list helps you to keep on top of what we need you to do to keep your transaction moving forward.

From completing your documents, through to verifying your ID, it’s all written out for you.

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LYONS BOWE APP

SECURE PAYMENTS

Our secure payment portal lets you make your initial payment on account quicker and more easily than ever.

No need to read your card number over the phone, or take time out of work to come to our offices, it’s right there in the palm of your hand.

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LYONS BOWE APP

DIGITAL ID

ID Verification is a crucial step that we take toward keeping you and your transaction safe. We’ve made verifying your ID and source of funds easier than ever before. All you need is two forms of ID, your phone, and you’re ready to go!

phone frame icon
comment icon

LYONS BOWE APP

DIGITAL FORMS

Our digital forms let you complete, sign, and return your forms from the comfort of your own phone in minutes. Whether you’re completing your contents form over coffee, or your source of funds on the sofa, buying and selling property’s never been easier.

tick icon

LYONS BOWE APP

PERSONAL TO DO LIST

Your personal to do list helps you to keep on top of what we need you to do to keep your transaction moving forward.

From completing your documents, through to verifying your ID, it’s all written out for you.

mobile phone icon

LYONS BOWE APP

SECURE PAYMENTS

Our secure payment portal lets you make your initial payment on account quicker and more easily than ever.

No need to read your card number over the phone, or take time out of work to come to our offices, it’s right there in the palm of your hand.

fingerprint icon

LYONS BOWE APP

DIGITAL ID

ID Verification is a crucial step that we take toward keeping you and your transaction safe. We’ve made verifying your ID and source of funds easier than ever before. All you need is two forms of ID, your phone, and you’re ready to go!

phone frame icon

GET A REMORTGAGING QUOTE
IN MINUTES NOW

Find out how much your purchase is likely to
cost in less than 3 minutes!

target symbol

GET A REMORTGAGING QUOTE
IN MINUTES NOW

Find out how much your purchase is likely to
cost in less than 3 minutes!

target symbol

GET A REMORTGAGING QUOTE
IN MINUTES NOW

Find out how much your purchase is likely to
cost in less than 3 minutes!

THE ANSWERS TO YOUR
REMORTGAGING QUESTIONS

ANSWERED BY

GEMMA MONDAY

HEAD OF PROPERTY

WHAT IS REMORTGAGING?

Remortgaging is the process of taking out a new mortgage against your property. Your lender will perform a new valuation on your property and you will need to sign a new mortgage agreement. You may also re-mortgage if you have received permission from your lender to privately rent out your property and you now need to take out a buy-to-let mortgage.

CAN I REMORTGAGE A SHARED OWNERSHIP PROPERTY?

Yes, however you will be limited to lenders that offer shared ownership mortgages.

WILL I HAVE TO PAY SDLT ON A REMORTGAGE?

No, you do not need to pay SDLT on a remortgage unless the ownership of the property is being transferred to another party, in which case, they would need to pay SDLT.

WHEN CAN I REMORTGAGE?

This varies from lender to lender. Some lender’s terms will allow you to remortgage at any time, other lenders will stipulate that you have to have been making payments on the mortgage for a fixed amount of time before you can remortgage. You will need to check with your lender’s terms.

CAN I REMORTGAGE FROM A HELP TO BUY?

Yes, you can remortgage a help to buy property, however your lenders may require you to have built up a certain amount of equity in the property, or to have been held the mortgage (whilst making consistent repayments) for a certain amount of time (typically two years) before you have the option to remortgage.

the team

ASK A QUESTION

No chat bots, just human beings here! Ask us a question and we’ll respond within 1 working day. Your question might be added to our FAQs to help anyone else with the same question. It’s nice to help others.

ASK A QUESTION

WHAT IS REMORTGAGING?

Remortgaging is the process of taking out a new mortgage against your property. Your lender will perform a new valuation on your property and you will need to sign a new mortgage agreement. You may also re-mortgage if you have received permission from your lender to privately rent out your property and you now need to take out a buy-to-let mortgage.

CAN I REMORTGAGE A SHARED OWNERSHIP PROPERTY?

Yes, however you will be limited to lenders that offer shared ownership mortgages.

WILL I HAVE TO PAY SDLT ON A REMORTGAGE?

No, you do not need to pay SDLT on a remortgage unless the ownership of the property is being transferred to another party, in which case, they would need to pay SDLT.

WHEN CAN I REMORTGAGE?

This varies from lender to lender. Some lender’s terms will allow you to remortgage at any time, other lenders will stipulate that you have to have been making payments on the mortgage for a fixed amount of time before you can remortgage. You will need to check with your lender’s terms.

CAN I REMORTGAGE FROM A HELP TO BUY?

Yes, you can remortgage a help to buy property, however your lenders may require you to have built up a certain amount of equity in the property, or to have been held the mortgage (whilst making consistent repayments) for a certain amount of time (typically two years) before you have the option to remortgage.

the team

ASK A QUESTION

No chat bots, just human beings here! Ask us a question and we’ll respond within 1 working day. Your question might be added to our FAQs to help anyone else with the same question. It’s nice to help others.

ASK A QUESTION
plus iconminus icon

WHAT IS REMORTGAGING?

Remortgaging is the process of taking out a new mortgage against your property. Your lender will perform a new valuation on your property and you will need to sign a new mortgage agreement. You may also re-mortgage if you have received permission from your lender to privately rent out your property and you now need to take out a buy-to-let mortgage.

plus iconminus icon

CAN I REMORTGAGE A SHARED OWNERSHIP PROPERTY?

plus iconminus icon

WILL I HAVE TO PAY SDLT ON A REMORTGAGE?

plus iconminus icon

WHEN CAN I REMORTGAGE?

plus iconminus icon

CAN I REMORTGAGE FROM A HELP TO BUY?

YOUR EXPERIENCE
YOUR WAY

YOUR EXPERIENCE
YOUR WAY

At Lyons Bowe we believe that you should be able to choose how you access your legal services. Use the button below to see which experience best meets your needs.
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CHOOSE YOUR
EXPERIENCE

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  • WHEREVER YOU NEED US

MEET YOUR FROME
REMORTGAGE TEAM

We can tell you about all the reasons why we are the law firm you’ve been waiting for, but our teams are really what make us great. Meet the people that make us great.

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