Solicitor for Remortgage
Remortgage Conveyancing
A solicitor for remortgage can facilitate the process of transferring your mortgage from one lender to another. When you are looking to remortgage your property, an experienced solicitor will give you clear and practical advice about the best way to proceed.
Whether you are switching lenders or staying with your current one, having a solicitor for remortgage is essential to handle the legal aspects of transferring your mortgage. While you may not always need a solicitor to remortgage with the same lender, working with an experienced professional ensures that everything is handled efficiently and correctly. At Osbornes Law, we specialise in remortgage conveyancing, offering transparent pricing and expert guidance throughout the process. With competitive remortgage solicitor fees, we make remortgaging straightforward and stress-free
What is a remortgage?
A remortgage is the process of replacing your existing mortgage with a new one, either with your current lender or a new lender. There are many good reasons to remortgage, including:
- Switching to a better deal, such as a lower monthly payment or a better interest rate
- Moving to a flexible mortgage that allows you to over or underpay each month and take payment holidays
- Raising money to buy out an ex-partner
- Transfer of equity to another owner
- Raising money for another reason, such as home improvements, buying a car or as a deposit on a buy-to-let property
Should you remortgage?
The main consideration is to work out if a remortgage is worth it. You may be able to save a lot of money on your monthly payments by switching to a new deal, but you will need to weigh that against the costs that may be associated with the remortgage such as early repayment fees, mortgage application fees and legal costs. You also need to make sure you are not overstretching yourself – if you take on a new mortgage that is bigger than your current one, your monthly payments may be higher, which may not be sustainable in the long run.
Our conveyancing solicitors are unable to advise you on specific mortgage products. However, we will be happy to walk you through the costs of remortgaging so you can make an informed decision.
What’s the conveyancing process for remortgaging?
When remortgaging, the overall process is similar to when you first took out your mortgage. Your remortgage solicitor will carry out searches and check the legal documents, almost as if you were buying the property for the first time. They will then send a Certificate of Title to your new mortgage provider. The lender will need to confirm it is happy with the legal title before they release the money.
Your remortgage solicitor will also liaise with your current mortgage lender to get details of how much you need to pay off your current mortgage. Once everything is in place, they will arrange for the funds from your new mortgage lender to be used to pay off your existing mortgage, along with any early repayment charges or exit fees. They will then register the remortgage with the Land Registry.
There may be a few additional steps to take, such as providing proof of your income. Your conveyancer will guide you through these.
How long does a remortgage take?
Remortgaging usually takes between four and eight weeks, depending on the complexity of the case. Your solicitor for remortgage will be able to give you a better estimate once they have had the chance to look over your paperwork.
Do you need a solicitor for a remortgage?
Do I need a solicitor to remortgage with the same lender?
No, you generally do not need a solicitor to remortgage with the same lender. In this situation, the lender will deal with you directly to move you to the new rate or deal. However, it is always a good idea to speak with a remortgage solicitor to ensure that you are making the best decision for your individual circumstances. Adding or removing someone from the mortgage, for example, remortgaging after a divorce, is easier if you have the help of a remortgage solicitor.
Do I need a solicitor to remortgage with a different lender?
Yes, you will need to use a solicitor to remortgage with a different lender. The lender wants to know that the property has good legal title and is good security for the money it is lending. You will need a solicitor to deal with the formalities and provide the necessary assurances.
Need a solicitor for your remortgage? Discover the Osbornes Law difference
Osborne Law’s remortgage solicitors have a wealth of experience and are dedicated to ensuring that your remortgage is completed as quickly and cost-effectively as possible. Our commitment to customer service has earned us an accreditation in Lexcel, which is an independent quality mark for the legal industry. With affordable fixed-fee quotes and a friendly, responsive service, we can help make the remortgage process straightforward and stress-free. For more information, get in touch with us today.
Remortgage solicitor fees
If you’re wondering how much a solicitor charges for a remortgage, our fees are designed to offer excellent value while covering all the necessary legal work, including property searches, liaising with lenders, and registering the remortgage with the Land Registry.
Our remortgage solicitor fees for the remortgage of a property are £995.00 plus VAT*
Understanding the solicitor fee for a remortgage is an essential part of planning your remortgage process.
Search fees:
Land Registry Priority Search fee – £3.00
Bankruptcy Search fee – £2.00 per name
Search fees (includes Local Authority, drainage, environmental, Chancel, flood and planning searches) – £350.00 approximately. Note however that some lenders will accept no search indemnity insurance which is considerably cheaper and quicker to obtain. Once we have instructions from you to act on the remortgage, we will check whether it is possible to obtain search indemnity insurance.
HM Land Registry fee:
This mandatory cost is set by the Land Registry and depends on the value of the property you are re-mortgaging. The fee will range from £20.00 to £910.00.
Electronic Money Transfer fee:
£15 plus VAT per payment.
HM Land Registry Official Copies of the title:
£3.00 per copy
Landlord’s registration fee for notice of mortgage (leaseholds only):
£100 + VAT where applicable
These disbursements can vary widely and we will notify you of the charge as soon as possible during the course of your remortgage.
VAT:
You will only pay VAT on our legal fees and the cost to make an electronic money transfer.
Referral fees:
For some transactions, we do pay referral fees. The amount of any referral fee will be disclosed to you at the commencement of the transaction. To be clear, these referral fees are paid by us to third parties and not by you.
*Our remortgage solicitor fee assumes that:
Your re-mortgage is a standard transaction and no unforeseen matters arise including for example (but not limited to) a defect in title which requires remedying prior to completion or the preparation of additional documents ancillary to the main transaction. The maximum fee shown is for the value of a freehold property between £1,400,000.00 and £1,500,000.00. Please contact us for a quote if the purchase price is above £1,500,000.00
Speak to a Remortgage Solicitor Today
Call us 020 7485 8811
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I've recently used Osbornes for my home purchase and an equity transfer. Rachael was fantastic all the way through, keeping me informed and up to speed as to the purchase progress.
We hope not to move again for a long time, but when we do we will choose Osbornes for the conveyancing. Thank you.
Buying and selling a house can often be a challenging process, but communication and service I received from Osbornes was second to none. I would recommend them without hesitation - 5 stars
I have used Osbornes a few times and I’m really happy with the service provided. They provide a very professional, polite and efficient service and I would highly recommend them.
Osbornes team was great with the sale of our property, everything went smoothly and very responsive
Osbornes are really thorough, professional & friendly. They were aware of the need for haste in my sale & they did everything they could to achieve the results of completing before the end of the SDLT holiday.
Typical timescales and key stages
The guide below applies in a typical remortgage where the lender is a bank/building society and not an individual. The typical remortgage transaction takes approximately 4 weeks to complete but in some instances can be completed quicker.
- Obtaining title deeds and a redemption statement
- Obtaining office copies of the client’s property title
- Carry out title checks
- In the case of leasehold properties, carry out a check of the lease and make enquiries to the landlord regarding the status of service charge and rent payments
- Check mortgage offer
- Prepare for completion
Obtain final redemption statement - Final searches and checks
- Obtain mortgage advance and complete the remortgage
- Register changes at the Land Registry
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The Property Law Team View the whole team
Rachael Atkinson
Partner
Property LawWilliam Ford
Partner
Housing and Social CareShilpa Mathuradas
Partner
Property LitigationSimon Nosworthy
Partner
Property LawGuy Osborn
Partner
Commercial PropertyMuna Adam
Solicitor
Property LitigationTejal Amin
Associate
Property LawAngelina Arora
Solicitor
Property LawAprill Barry
Associate
Property LawMaria Elliot
Senior Associate
Property LawStephanie Evanson
Paralegal
Property LawNaomi Francis
CILEX Advanced Paralegal
Property LawGrace Hedges
Solicitor
Commercial PropertySean Hughes
Trainee Solicitor
Property LitigationAmber Krishnan-Bird
Senior Associate
Property LawImogen Lowden
Paralegal
Commercial PropertyEmily Lund
Senior Associate
Property LawJames Mayall
Solicitor
Property LitigationEllie McEvoy
Paralegal
Property LitigationTom McHale
Trainee Solicitor
Property LawAlex McMahon
Senior Associate
Housing and Social CareLeopoldine Mineo
Solicitor
Property LitigationAngela Osei-Bonsu
Paralegal
Property LawAlex Panayi
Solicitor
Property LitigationView the
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