Whether you are mortgaging your property for the first time or are changing mortgage lenders to obtain a better deal Jackson Quinn will use our expertise to assist you.
Stage 1 – Getting Started
We obtain all documents regarding the property you are mortgaging from you and/or your present lender if you already have a mortgage
Stage 2 – Title Inspection and Searches
We obtain and check the title and supporting documentation whilst at the same time making searches – if required by the new lender – of the local Council, the relevant water company, holders of environmental information and The Coal Authority if necessary. These searches tell us, among other things, whether the local authority have given planning permissions or improvement grants which affect the property; whether the property drains to a publicly maintained sewer and how much of the drainage system might the liability of the householder; whether a claim for mining subsidence affecting the property has ever been made.
We will let you know if it is possible to purchase an insurance policy rather than make all the searches, as this could be quicker and cheaper for you, although it will depend upon your lender approving this.
Stage 3 – The Mortgage Offer
We check the details of the offer of your new mortgage to ensure that all conditions are met, insurances will be in place when required etc, and will obtain from your existing mortgage lender a note of how much is required to pay off your present mortgage so that we know whether we will have to ask you for money to make up the required sum.
We will then meet with you to report on the transaction, obtain your signature to the necessary documents and arrange a completion date. (Completion is the day your house becomes mortgaged to the new lender)
Stage 4 – Completion
Just before completion we make the necessary last minute searches of The Land Registry and Land Charges Department and on the day of completion, you do not have to do anything at all, but can leave everything to us. We will redeem your old mortgage and pay any balance due to you.
Stage 5 – Finishing Touches
Following completion, we will register your new mortgage on the property with The Land Registry. We will then send any documents required by them to your mortgage lender, and the rest to you for safekeeping.
Please remember that we are here to help you and to protect your interests above all others. Please refer to our ‘Frequently asked Questions’ section if you need further information, or contact our offices.