Remortgaging the same property is simpler than when you’re buying or selling a property, because the delays associated with buying and selling don’t exist.
According to Money.co.uk, the remortgaging process typically takes between 4 and 8 weeks. Knowing what to expect and being prepared can help shorten the process by at least a week.
ID information and source of funds
Have your ID information and proof of source of funds ready before you start looking for conveyancing quotes. You’ll need a photo ID such as a passport and proof of residence, such as a utility bill for each person named on the mortgage deeds.
Solicitors are required by law to check the source of funds you’re using to pay down part of your existing mortgage. For example, if it was from a property sale, they’ll need to see a copy of the completion statement and your bank …