Switching your Mortgage or Re-Mortgaging your property means that you are taking out a new mortgage with a new bank, effectively using this money to repay your existing mortgage. Our firm can guide you through the switching process. 

Lending Institutions are competing with each other to lend to you. Some banks offer cash back incentives or a percentage of the re-mortgage sum to new customers with many offering to pay your legal fees. The first steps to switching your Mortgage is to contact your Mortgage Broker or contact your bank directly to check your eligibility.

You need to bear in mind that your Title Deeds are held by your current bank which provides your existing Mortgage. It will be necessary for a written Authority to be provided by you to your Solicitors to allow us to obtain your Title Deeds from the Bank. These are required by your Solicitor to facilitate a Re-Mortgage as your Solicitor needs to provide certain undertakings and assurances to the new lender in terms of discharging your existing Mortgage and putting a new Mortgage in place.

Once your Bank has formally approved your new Mortgage ( your switcher Mortgage/Re-Mortgage) the Bank will send you a formal letter of offer setting out the Terms & Conditions of the loan. The Bank will also issue a legal pack to our firm with a copy of the loan offer which will contain the Mortgage documents. On receipt of same, we will arrange for you to attend our office to review all of the paperwork and to have all of the paperwork signed if you are satisfied with all of the Terms & Conditions.

We will write to your current Bank to obtain redemption figures to ascertain the outstanding sum due on your existing Mortgage and we will arrange to discharge your existing Mortgage from the new Mortgage once received. At this juncture, we will also arrange to lodge the new Mortgage documentation for registration and liaise with your current Bank for the purposes of procuring a formal Discharge of your previous Mortgage. Once your new Mortgage has been registered, we then schedule the Deeds and forward these to your new Bank where they will be held until the Mortgage is repaid or you switch your Mortgage to another Bank or indeed sell the property.

On receipt of all funds from your new bank, we will complete a Statement of Account showing the redemption of the previous Mortgage and deduction of all agreed fees, VAT and outlay with balance funds to be transferred to you.

Our firm aims to make the switching process as uncomplicated as possible and importantly we deliver a very quick turnaround to all of our clients at affordable prices.

For more information or for a quote please call us on 051-877029 or e-mail us at info@mwkeller.ie.