If you’re considering a remortgage, you might be curious about the process and whether involving a solicitor is necessary. Typically, remortgaging is a straightforward procedure, and with proper preparation, you can expect a swift completion.

The services of a conveyancing solicitor become essential in the latter stages of the remortgage process. You have the option to either engage your own solicitor or utilize one assigned by the lender.

Let’s delve into the details of remortgaging and pinpoint when the expertise of a conveyancing solicitor:

Legalities and Documentation

A remortgage still involves legal processes and documentation, even if it’s less extensive than the initial mortgage. A solicitor will ensure that all legal requirements are met and handle the necessary paperwork.

Title Searches

Your solicitor can conduct title searches to verify that there are no outstanding issues with the property that could affect the remortgage process.

Advice on Contracts

Even in a remortgage, you’ll be dealing with legal contracts. A solicitor will review these, ensuring that the terms are fair and that you fully understand your obligations.

Handling Redemption Statements

If you’re switching lenders, a solicitor can obtain and scrutinize the redemption statement from your existing lender, detailing the amount needed to pay off the current mortgage. This helps prevent unexpected charges.

Lender Requirements

Some lenders may insist on legal representation during the remortgage process. Consulting with a solicitor ensures compliance with any specific lender requirements.

Peace of Mind

Having a solicitor on your side can provide peace of mind, knowing that a legal professional is overseeing the process and addressing any potential issues.

You’ll see how, whilst it’s possible to remortgage without the support and guidance of a solicitor, it’s a wise move to instruct one. There is less work than if you were purchasing a property so it’s likely to be cheaper however.

For solicitors we act as introducers only and FCA does not regulate the solicitors. If you have any questions about remortgaging your property then we’d be more than happy to help.