The role of remortgage solicitors

 

Remortgaging your home or property is usually done in order to raise finance, or to take advantage of a preferential financial climate. It can be a complicated process and should not be undertaken without instructing a specialist property law solicitor.

We can help you find the right firm for the job: call us on 0800 1777 162 to arrange a referral.

The process of remortgaging

Once you have instructed your solicitor, they will be able to handle much of the process for you. This will include:

  • Liaising with your mortgage broker
  • Obtaining and reviewing the title deeds to your property
  • Checking the remortgage offer and advising on its effect
  • Conducting any legal searches, including a bankruptcy check

Once you and your solicitor are satisfied that the remortgage can go ahead, they will send a certificate of title to the lender who can complete the process.

Completion

The lender will send the money obtained through your remortgage to your solicitor. If you have obtained a new lender, for example through a broker, your solicitor will use these funds to pay off the previous mortgagee, which is known as redemption.

They will then transfer the remaining money to you. Finally, they will register the new mortgage with the Land Registry and return the deeds to the new lender.

As you can see, remortgaging your property is a complicated process, and an expert’s help with the legal formalities is highly recommended. Contact Law can put you in touch with expert solicitors quickly and easily.

If you would like to obtain legal advice on remortgaging your property, we can put you in touch with a local specialist solicitor free of charge. Please call us on 0800 1777 162 or complete the web-form above to speak to an advisor.

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