Do I need a solicitor to remortgage my home?

Do I need a solicitor to remortgage my home_

Barcan+Kirby’s conveyancing solicitors explain how seeking legal advice for a remortgage can pay off

Remortgaging involves switching from one mortgage deal to another on a property that you already own. This might be a new agreement with your existing mortgage lender or you might decide to move to a different provider, especially if they are offering a better rate.

Why do people choose to remortgage?

Whether you’re looking to reduce your monthly outgoings, invest in home improvements, or your current mortgage term is coming to an end, there are many benefits to remortgaging. It could allow you to:

  • Avoid your lender’s standard variable rate (SVR) at the end of your mortgage term.
  • Increase the money you borrow on your mortgage to free up cash.
  • Reduce your monthly repayments by switching to a mortgage lender with better rates. Your current deal may involve exit fees but this could still be financially viable.  
  • Change to a mortgage lender that allows you to overpay.
  • Switch to a mortgage lender that offers fixed payments, giving you more financial certainty.

Do I need a solicitor to remortgage?

If you are remortgaging with your current provider, you will usually not require a solicitor, but you must check with your lender before proceeding. If you are changing lenders, you will need a solicitor.

Remortgaging is a big decision and it can have a large impact on your finances. An expert conveyancing solicitor can advise you on your options and how the process works, handle the technical aspects of the transaction including requesting title deeds and redemption statements, check the terms of your new offer and oversee the transfer of funds.

The solicitors on your new mortgage lender’s panel might not necessarily be right for you, so it is worth doing your research to find a solicitor that works for you.

How we can help

To speak to our specialist remortgaging solicitors in Bristol, contact us on 0117 325 2929. Alternatively, to get an instant quote free of charge, complete our online form.

Share this Post:

More Posts: