Why Do You Need a Solicitor/Conveyancer When Remortgaging? 

by Deana Powell, CILEX Paralegal & Chloe Amouroux, Trainee Solicitor, within our Residential Property Team.

If you are moving your mortgage to a new lender, you will often need a solicitor/conveyancer to complete the legal work. Although a remortgage is often more straightforward than buying or selling a property, your new lender still needs to be satisfied that the property provides suitable security for the loan. 

What does your solicitor/conveyancer do? 

Your solicitor acts for you and, in most cases, your new lender. They review the legal title to the property, check the requirements in the mortgage offer and deal with any issues that could affect the lender’s security. They will also obtain a redemption statement from your existing lender, repay the old mortgage on completion and arrange for the new mortgage to be registered at HM Land Registry. 

Some transactions require additional work. Leasehold and shared ownership properties may involve a freeholder, managing agent or housing association. If you are adding or removing an owner, a transfer of equity will also be needed. In these cases, early legal advice can help identify additional documents, consents, costs or timescales. 

Why choose your own solicitor/conveyancer? 

Choosing your own solicitor/conveyancer gives you a direct point of contact and legal advice tailored to your transaction, rather than a service focused only on processing the refinance. An experienced solicitor can explain the title, deal with lender conditions and work closely with your mortgage broker to keep the matter moving. 

It is important to choose a firm that is on your new lender’s approved panel. Bright Solicitors acts for many lenders and has strong working relationships with mortgage brokers. Our team is experienced, efficient and easy to contact throughout the process. 

How long will it take? 

A straightforward remortgage can often be completed within a few weeks once the formal mortgage offer is available. The exact timescale will depend on the lender’s requirements, the property title and whether any third parties need to provide information. If you are about to go on to a variable rate then you may need to proceed quickly so it is important you choose the right legal team. 

How Bright Solicitors can help 

Our fixed legal fee for a standard remortgage is from £950 plus VAT, subject to the circumstances of the transaction. Additional legal work and third-party charges may apply, for example where the property is leasehold, shared ownership or a transfer of equity is required. 

If you are considering remortgaging, contact Bright Solicitors for a clear quotation and practical advice on the next steps.