Conveyancing for Remortgages: Do You Still Need a Solicitor?
Remortgaging is a common step for homeowners looking to reduce their monthly repayments, release equity, or move to a more suitable mortgage product. While the process is generally simpler than buying or selling, it often still requires the expertise of a solicitor.
When Is a Solicitor Required?
If you are remaining with your existing lender, legal work may not be necessary. However, if you are moving to a new lender, they will require a solicitor to confirm that the property is legally sound and that their security over it is properly registered.
The Work Involved
Your solicitor will: - Review the property’s title. - Ensure there are no restrictions affecting the lender’s interest. - Repay the old mortgage and register the new one. - Deal with the Land Registry on your behalf.
Lender Arrangements
Some lenders offer “free legal work” through their panel solicitors. Others may require you to appoint your own. Checking your mortgage offer carefully will clarify your obligations.
Costs and Timescales
Conveyancing for a remortgage is usually less costly than for a purchase. Searches are often unnecessary, unless your lender specifically insists on them.
Summary
Having a solicitor involved in a remortgage ensures that your property remains legally secure and that the lender’s requirements are properly met.
At Sheltons Solicitors, we provide efficient remortgage conveyancing, ensuring that the process is straightforward and reliable.
Contact Sheltons Solicitors:
[Text Wrapping Break]Visit: www.sheltons-solicitors.co.uk[Text Wrapping Break]Call: 0115 955 3444[Text Wrapping Break]Email: info@sheltons-solicitors.co.uk
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The information contained in this article does not constitute financial advice or recommendation and should not be considered as such. Sheltons Solicitors does not offer financial advice and is not regulated by the Financial Conduct Authority (FCA), the authors of this article are not financial advisors and are therefore not authorised to offer financial advice.
The information provided in all of our blogs reflects only a narrative of some elements to consider on the topic. The blogs do not contain considered legal advice and should not be relied upon as advice. Please see our website terms and conditions for full details of our disclaimer. If you are interested in obtaining advice, please contact one of our lawyers who will be happy and able to advise you on your own particular circumstances.
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