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Once we’ve issued your mortgage offer, our Legal Services Department will write to you with our legal pack that tells you what the next steps are and what you will need to do.

Within the legal pack there will be documents for you to complete, sign and return such as a Mortgage Deed, bank details form, and form of authority (if you have an existing mortgage). If you have no existing mortgage, you will also be sent a completion statement. We will also send a form of consent to any adult aged over 17 who occupy your property.

What is meant by the term ‘free legals’?

‘Free legals’ can be a bit confusing, as different mortgage lenders may use the term to mean different things. For Family Building Society, ‘free legals’ means we will undertake the legal aspects for you to remortgage a property to us as described above. We have an in-house Legal Services Department who carry out this work on our behalf only. We do not offer a free legals service for mortgages where a property is being purchased.

The benefits of using our free legals service include no legal fees as your remortgage may be dealt with in-house by our Legal Services Department. It can often be a quicker process. However, our in-house Legal Services Department cannot provide you with legal advice on your remortgage or act for you. If you do require legal advice on any aspect of your remortgage, we recommend you speak with your own legal representative. 

What is involved?

As part of your remortgage, our Legal Services Department are required to carry out certain checks and searches on you and your property. This includes searches and checks with the HM Land Registry and the Land Charges Department on you and your property; checks on any special conditions as part of your mortgage offer; checks on your property title, and anything else that may have come up as part of the valuation we did on your property.

If you have an existing mortgage outstanding with another lender, we will also contact them to request a redemption statement in order to establish the full amount required to pay off your existing mortgage with them .

What else might I need to know?

Searches have a time limit and expire, so to ensure information is as up-to-date and relevant at the date of completion, we do not carry these out too early when processing your application.

What if I am borrowing less from you than I owe my existing lender?

If you are remortgaging to us from another lender, there may be a difference between the amount you are borrowing from us, and the amount you need to repay to your existing mortgage lender. This is called a ‘shortfall’.
If the shortfall amount is more than the Product Fee payable to us for your mortgage, you must pay this money directly to your existing mortgage lender. We cannot pay money to your existing lender on your behalf.

If the shortfall amount is the same as or less than the Product Fee payable to us for your mortgage, you can either pay this money directly to us, or to your existing mortgage lender

 

Family Building Society
Ebbisham House
30 Church Street
Epsom
Surrey KT17 4NL
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