Remortgaging can be a confusing topic, and that’s before you even start the hunt for a conveyancer to do it for you. In the search for finding a solicitor for your remortgage, read our handy guide to find out where to look, and what will actually happen during the remortgage…
Remortgaging makes sense for a lot of people, but not for everyone, and if you plan on doing it, you’ll need a good solicitor to ensure everything is done properly. Often, a remortgage solicitor is no different to a regular conveyancer, but you’ll want to compare quotes to make sure you get the right person for the job.
Before you even choose a solicitor, you’ll need to go through all the available mortgage deals from a range of banks to make sure you choose the best one. When finding a solicitor for your remortgage, it is best to choose impartially rather than going straight to your bank, as they will no doubt want you to remortgage with them and may influence your choice, meaning you miss out on better deals elsewhere.
Once you’ve chosen a mortgage that suits all your needs, you can find a remortaging solicitor. When searching for a solicitor, always check their online reviews to make sure that they are reputable, transparent and professional – you want this to go as quick and painlessly as possible.
Aside from the obvious points made above, there are a few other things you’ll want to keep in mind. The first one is the most important – Fixed Fees. When you hire a solicitor who offers Fixed Fees, this means the quote they give you will remain the same throughout the entire remortgaging process, and you won’t get any sneaky fees tagged onto the bill at the end – you’re meant to be saving money after all.
So now you’ve found the mortgage you want, and found the perfect solicitor, it’s time to get this show on the road. First thing’s first, you will receive an ‘offer in principle’ from your mortgage provider, and will give your new solicitor the details for your existing mortgage. Your solicitor will then get the title deeds for your property and something called a ‘redemption statement’ for your current mortgage.
Next you’ll start the actual conveyancing process, which begins with a valuation of your home. Your lender will then make the formal remortgage or loan offer and send it to your instructed solicitor who will go through the whole process with you and let you know of all the requirements.
The final part of the process is signing the new mortgage documents, which you must make sure you’re 100% happy with first. Your solicitor will organise a completion date with you and your lender and on that day you’ll receive your new mortgage, minus anything remaining to be paid on the old one. Your solicitor will register your remortgage with the Land Registry, and send you a copy of the new mortgage documentation – that’s it you’re done! Pay your solicitor and off you go!
Finding a solicitor for your remortgage can be daunting, so why not compare remortgaging solicitors with our handy conveyancing search engine. You can view quotes by price, location, lender and guarantees to make your search even simpler.