Do I Need a Solicitor to Remortgage - & Which Type?
There are several types of solicitors and conveyancers, and you might find that when you remortgage, the lender provides free legal services, in which case you won’t need to factor in any additional costs.
However, it would help if you verified whether the legal fees are free or rolled up in your mortgage costs, in which case you might be better off hiring your legal representative, so you have control over the charges and the work they conduct on your behalf.
When Do I Need a Solicitor to Remortgage?
If you're adding another party to your mortgage, such as a partner, you will need a solicitor to deal with the legal processes required to change the ownership and add the additional person to the mortgage deeds.
Another reason you might need to consider do I need a solicitor to remortgage is if you’re remortgaging to remove somebody from the deeds. For example, if you have separated from a previous partner and are remortgaging on your own, you’ll need a solicitor to ensure the change is registered correctly.
Can my ex remortgage without my consent? No, whoever is applying for the remortgage must notify the other person before they can be removed from the title deeds and mortgage paperwork.
How Does a Remortgage Work UK in Terms of Legal Costs?
When remortgage paperwork is approved, you might find there are several different aspects of the legal work, and the instructions you give your solicitor and the complexity of the work will dictate the costs, which could include:
- Conveyancing fees: £300 to £1,000
- Land Registry fee: £20 to £910
- Bankruptcy Search: £2
- Priority Search: £3
- Official title copies: £3 to £12
Do I need a solicitor to remortgage and carry out all these tasks? It depends on the new lender's requirements or whether you're applying with the same provider.
Do I Need a Solicitor to Remortgage & Can I Add the Fees to the Balance?
Most remortgage providers provide free coverage as an incentive. If there is a separate legal charge, you’ll usually need to pay this upfront rather than rolling it into your loan – it’s only normally rolled into your first repayment if that is part of the remortgage offer.
It is up to you whether you choose the lender’s solicitor or offer of legal cost coverage when remortgage, but typically you won't be able to opt-out if this service is part of the remortgage terms.
However, not all lenders will include this, and you may need to appoint your own solicitor.
How Long Does Remortgage Take UK for Legal Checks?
Conveyancing for a remortgage is more straightforward than for an initial property purchase, but your solicitor may need to:
- Complete ID checks.
- Access a redemption statement from the previous lender.
- Carry out leasehold checks.
- Run property searches.
- Wait for the new lender to complete a valuation.
- Check the terms and conditions of the remortgage offer.
- Witness and verify your signature on the new deeds.
- Conduct bankruptcy and priority searches.
- Oversee the completion process.
When remortgage reaches completion, the solicitor receives the funds from the new provider, repays the balance on the old mortgage, and remits any credits to you.
How long does remortgage take UK from start to finish? Normally around four to eight weeks, although the legal work shouldn't take this long and is usually included in that average time frame.
