If you are looking to remortgage your home in Jersey, our team of lawyers can assist you throughout the entire process.

Equity Release and Remortgage

Whether you have found a better mortgage deal and therefore are looking to remortgage your property in Jersey, or you want to release some equity tied up in your Jersey property to refurbish your home, Parslows Jersey remortgaging and equity release specialists can assist.

Parslows provide clear, practical advice about the best way to proceed, deal with your bank or lender on your behalf, advise you and take the necessary legal steps towards getting your remortgage or equity release in Jersey finalised.

So what is equity release and remortgage? And how Parslows help with the process in Jersey?

Parslows for Residential Property Law Equity Release and Remortgage

What is a remortgage?

A remortgage in Jersey is, in essence, replacing your existing lender. Remortgaging with a different lender will involve your current mortgage being paid off in full and replaced with a new mortgage.

What is equity release?

Equity is the difference between the value of your Jersey property and the loan(s) secured against your property. Equity release in Jersey is simply the term used for freeing up some of this equity in your Jersey property.

How long does a remortgage in Jersey take?

The process is undertaken by a lawyer to deal with your remortgaging usually takes two or three weeks once we have the security documents which are provided via the lenders Jersey lawyers. You will need to ensure you have obtained a redemption figure from your existing lender in good time to ensure no delays in obtaining your remortgage.

How long does equity release in Jersey take?

From a lawyer’s perspective, the process should take two or three weeks once we have the security documents which are provided via the lenders Jersey lawyers.

Do I need a lawyer to assist with a remortgage or equity release in Jersey?

You will require a lawyer to provide advice on the security documents, the charge over your property and a certificate of title to the lenders Jersey lawyers. The certificate of title is provided to certify the property is suitable as security for the loan.

What does a ‘charge’ over property mean?

When banks and other lenders provide you with a loan, they are likely to require security for their loan. As such, for freehold or flying freehold property, a lender will require that you sign documents that permit them to register a charge against your property in the Royal Court. This will mean that if and when you decide to sell your property you will be obligated to pay the bank off first. A similar process occurs with Jersey share transfer property. In such a case, the bank will secure and hold your share certificates until you repay your loan with them.

Can Parslows advise on whether the lender's loan is suitable for our purposes?

We are not licenced to advise on such issues. If you have queries of this nature, you should speak to your bank or independent financial advisor. Our advice is limited to advising on the security you are providing to the bank for the loan.

We are regularly thanked by our clients for our reasonable rates, exemplary service, communication with clients and ensuring that the whole process runs efficiently.

What our clients say

“Thanks for all your help…”

I just wanted to say thanks again for all your help! Really great landing the house in such a short space of time and everything is going well so far.

Residential Property July 22, 2023

“Super responsive, calm and sensible….”

I’m very glad the flat has gone through, was quite a struggle at the end! I just wanted to say how great I thought Catia was, super responsive, calm and sensible which is exactly what you need!

You might also like to know the other professionals, bankers / agents, we’ve used have always been happy we picked Parslows, feedback is generally something like “oh good they always get back to you…..”

Residential Property June 22, 2023

“Finest legal team around …”

I must say that the team at Parslows are without a doubt one of the finest legal teams around. They were professional, graceful, and kind while working through a rather obscure section of Jersey law, and I have many thanks to everyone there.

Residential Property March 16, 2023

“Efficient yet personal service …”

Mel, Sue and Shaun helped us acquire a wonderful new home with a very efficient yet personal service. The process was much more streamlined than we were anticipating and we are very grateful for the expert help in navigating the Jersey conveyancing system. Thank you all!

Residential Property March 13, 2023

“Great job …”

We are very pleased with the service that Parlows provided. The transaction went well and smooth flow from start to finish. Couldn’t recommend them enough! Thanks Mel and team. Great job!

Residential Property January 16, 2023

“Thank you for all your help …”

Thank you for all of your help Mel, I'll be sure to recommend you to friends (we came to Parslows based on a recommendation and so pleased we did).

Residential Property December 12, 2022

“Inspired complete confidence …”

We just used Parslows for the purchase of our property. From day one they inspired complete confidence in their handling of the situation. The biggest thing for me though was the super quick responses to my questions, no matter how basic or intricate they were. Thank you.

Residential Property October 24, 2022

“Thank you Mel …”

Thank you Mel for putting up with us, you did everything to get it done for us and we really appreciated it!

Residential Property October 3, 2022

“Recent blog post super helpful …”

I am a first time buyer who is currently working towards making my first property purchase. I just wanted to pop you a note to let you know how much I found your recent blog post super helpful: First-time buyer guide to the different types of property ownerships.

Thanks for taking the time to share useful information.

Residential Property September 22, 2022