With Madden Law, we provide a fixed cost service where there will be no surprises involved, presenting you with a seamless experience when topping up a mortgage.
- We adopt a modern approach to providing legal services.
- Flexible appointment options via video consultations or in person.
- We provide you with regular updates on your purchase.
- Provide you with a full breakdown of all costs at the start of the matter.
Our fixed cost service for a top up mortgage
What’s included in our fixed cost service
What’s first?
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.
Then, what happens?
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.
What’s next?
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.
We have put together a guide to help you understand what you need to do in relation to the title deeds process. Click the link below to download.
FAQs
Firstly, the solicitor will get your title deeds from your current bank. These will have the be reviewed to ensure that good marketable title can be given to the new bank. In order to get your deeds, your solicitor will have to obtain the written authority from the borrowers.
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.
Sign the authority, to get your title deeds from your current bank. You can download the form by clicking here.
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