Remortgaging your home is more common than you may initially think. There are several reasons that people do this, including getting a better deal on their repayments or releasing equity into their homes. Whatever your reason for remortgaging, we’re discussing everything you need to know about if you need a solicitor to remortgage your property and how to choose a solicitor if you need one.
Do I Need A Solicitor To Remortgage?
You don’t always need a solicitor when remortgaging your home. For example, if you simply want to remortgage with the same lender and you are just signing up to a new better deal, you shouldn’t need to find a solicitor as the process is rather simple.
However, if you’re wanting to get the ownership name changed or anything else which may require more work than a simple ‘product transfer’, then you should get a solicitor involved to handle all of the legal paperwork and discussions for you.
What Does A Conveyancing Solicitor Handle?
Conveyancing solicitors handle a whole range of legal matters whilst working through the remortgaging process. They are responsible for the appropriate ID checks to prevent money laundering, looking into your current mortgage for details, leasehold checks to ensure that everything adds up with the new lenders requirements and more.
How Long Does The Remortgage Process Take?
The process of remortgaging your home generally takes one-two months. If you’re remortgaging with the same lender, it tends to be a lot quicker than if you’re changing lender. Make sure to give yourself plenty of time to sort out remortgaging your property so that nothing is rushed and you can ensure that everything works out well for your personal circumstances.
How To Choose A Solicitor…
When you agree to a remortgaging deal, the majority of lenders will provide a solicitor for you, which is sometimes free. Yet, these solicitors aren’t always free even though you haven’t chosen them yourself. This means that you usually have the right to shop elsewhere for a solicitor which you’re comfortable with handling all of the legal bits.
When choosing a solicitor, the best thing to do is get several quotes from a few different solicitors. You can get a quote from us quickly and easily by clicking here and clicking ‘Start Calculation’ on our free conveyancing quote calculator. Once you’ve done this, you can compare prices and research into reviews from previous clients online. This should help you to make an informed decision on which solicitor to choose.
Our property law team is always eager to help, ready and waiting for your queries to provide professional legal advice. Contact us today for more information.
