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Why choose Madden Law when switching mortgage?
We have over ten years experience in property law. We provide transparent costs. We offer a range of flexible appointment options. We offer video consultations to discuss your mortgage documents. These can be booked online at a time that suits you. There is ample free parking outside our office at the Bryanstown Centre, Drogheda.
How long does the legal process take to switch mortgage?
It usually takes 6 weeks from the date the new loan offer is received from your new lender and the title deeds are received from your old lender.
The borrowers will give the details of their solicitor to their new bank. The new bank will send the loan offer and legal pack to the solicitor. The solicitor will review the loan offer to ensure that the borrowers can comply with all of the special conditions in it.
The borrowers will sign the loan offer and legal documents with their solicitor. The solicitor will send these to the new bank and arrange to drawdown the new mortgage. When the funds are received , the solicitor will redeem the old mortgage.
The solicitor will ensure that the old mortgage is removed from the title of the property. The solicitor will then apply to the Land Registry to register the new mortgage on the title of the house. When this is completed the solicitor will send all of the title deeds to the new bank.
How long does it take to switch mortgage?
It usually takes 4 weeks from the date your loan offer and title deeds arrive.
What do I need to do to start?
Sign the authority from your solicitor, to get your title deeds from your current bank.
If the house is registered in my sole name, but the new loan is in joint names, what do I do?
This is very common. Often a house was bought while a person was single and then after getting married, the house is remortgaged. An application is made to the Property Registration Authority to transfer the ownership into joint names. If the loan is issued in joint names, the bank will usually require the ownership of the secured property to be registered in the joint names of both borrowers.
I take the stress out of the legal process. I provide all necessary forms and information at the start of the re-mortgage, to ensure it runs smoothly for you.
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