Remortgage Solicitors

Remortgaging can be a good opportunity to secure a better mortgage deal, change your mortgage term or release equity from your property. It’s important to make sure the legal work is dealt with correctly.

ASK US A QUESTION

Our experienced remortgage solicitors can handle the legal side of your remortgage, from checking your property’s title and dealing with your existing lender to registering your new mortgage with HM Land Registry.

Our residential property team can take care of the legal work involved in your remortgage, helping to make the process as straightforward as possible.

If your circumstances are more complex, such as a leasehold property, transfer of equity or issues with the title, we’ll explain what additional work may be needed and advise you on the best way forward.

If you would like to speak with one of our expert Remortgage Solicitors, get in touch with us today on 0800 118 1500 or complete the form below.

What Is Remortgaging?

Remortgaging is the process of replacing your existing mortgage with a new mortgage, either with your current lender or a different lender.

There are several reasons why you might choose to remortgage. You may be looking for a better interest rate, want to change the length of your mortgage, release equity from your home or raise money for home improvements.

While your mortgage adviser or lender will help you find and arrange your new mortgage, a solicitor deals with the legal work needed to complete the remortgage.

Find out more in our frequently asked questions below.

employment law advice - two people sit across a table looking down at documents

Why Remortgage Your Home?

Secure A Better Interest Rate

Switching mortgage deals could reduce your monthly repayments or the amount of interest you pay over the term of your mortgage.

Change Your Mortgage Term

You may want to shorten your mortgage term to pay off your borrowing sooner, or extend it to make your monthly payments more manageable.

Release Equity From Your Home

If your property has increased in value, you may be able to release some of the equity you’ve built up. This could be used for home improvements or other purposes, subject to your lender’s criteria.

Borrow More Money

Some homeowners remortgage to raise additional funds, although it’s important to consider the overall cost and affordability of taking on additional borrowing.

Respond To A Change In Circumstances

Changes such as marriage, divorce or other significant life events may mean that your existing mortgage is no longer suitable for your circumstances.

Why Trust Talbots’ Remortgage Solicitors?

Remortgaging should not feel complicated. Our experienced residential property team understands the legal requirements involved and will take care of the process on your behalf, keeping you informed from start to finish.

You’ll have a dedicated conveyancer dealing with your matter, with clear communication and straightforward advice throughout. We’ll liaise with your existing and new lender, deal with the necessary legal paperwork and explain anything that needs your attention.

We also understand that unexpected issues can arise during a remortgage. Whether it’s a title issue, a leasehold requirement or additional documentation requested by your lender, we’ll identify problems early and work with you to resolve them.

With offices across the country and a team of specialists covering a wide range of legal services, we are able to provide practical advice tailored to your individual circumstances. As an employee-owned firm, we are committed to delivering exceptional service, clear communication and legal support you can trust. Our reputation is reflected in the thousands of positive reviews we have received from happy clients. Read our Trustpilot reviews.

Frequently Asked Questions

What is the remortgage process?

The legal process of remortgaging is usually straightforward, particularly when you’re simply switching from one mortgage lender to another. Our conveyancing team will deal with the legal work and keep you updated throughout.

1. Your new mortgage is arranged

Once you’ve chosen a new mortgage and your lender has approved your application, your lender will send your solicitor the relevant instructions and mortgage offer.

2. Your property’s title is checked

We’ll review the legal title to your property and check that there are no issues that could prevent the remortgage from going ahead. We’ll also deal with any searches or additional checks required by your new lender.

3. Your existing mortgage is redeemed

We’ll obtain a redemption statement from your current lender confirming how much is needed to repay your existing mortgage. This amount will be paid from the funds provided by your new lender when the remortgage completes.

4. We deal with your new lender

We’ll make sure the legal requirements set by your new mortgage lender have been met and deal with any documents or enquiries they raise as part of the process.

5. Your remortgage completes

Once everything is in place, we’ll arrange completion. Your existing mortgage will be repaid and your new mortgage will take its place.

6. Your new mortgage is registered

Following completion, we’ll deal with registering your new mortgage with HM Land Registry and make sure the relevant legal records are updated.

How long does a remortgage take?

A straightforward remortgage can often be completed within around four weeks, although the exact timescale will depend on your circumstances and how quickly the relevant information is provided.

Leasehold properties, title issues, delays from lenders or additional legal work can all affect the timescale. Your solicitor will keep you updated and let you know if anything is likely to cause a delay.

Do I need a solicitor to remortgage?

In most cases, yes. A solicitor or conveyancer is needed to deal with the legal work involved in changing your mortgage, particularly where you’re moving to a new lender.

Your solicitor will deal with the existing mortgage, check the legal title to your property, meet the new lender’s requirements and register the new mortgage with HM Land Registry.

Can I remortgage if I have a leasehold property?

Yes. You can remortgage a leasehold property, but there may be additional legal considerations. Your solicitor will need to review the lease and may need to deal with requirements from the freeholder or management company.

This can sometimes involve additional fees or documentation, so it’s important to establish these requirements early in the process.

Can I remortgage and release equity from my home?

Potentially, yes. If you have built up equity in your property, you may be able to borrow additional money as part of your remortgage, subject to your lender’s affordability and lending criteria.

Your mortgage adviser can advise you on the financial side of releasing equity, while your solicitor will deal with the legal work needed to complete the remortgage.

Can I remortgage and change the names on my mortgage?

A remortgage can sometimes be combined with a Transfer Of Equity, for example if you’re adding or removing someone from the legal ownership of your property.

This is common following marriage, divorce or separation, or where ownership arrangements have changed. There can be additional legal and tax considerations, so it’s important to get advice before making changes.

Can I remortgage with my existing lender?

Yes. You may be able to switch to a new mortgage product with your existing lender without changing lenders. Whether you need a solicitor will depend on the type of product you’re moving to and your lender’s requirements.

If you’re switching to a completely new lender, there will generally be additional legal work involved to replace the existing mortgage with the new one.