Remortgaging is a common financial move that many homeowners in the UK consider when looking to save money on their mortgage or access equity in their property. But one question that often arises is: Do you need a solicitor when remortgaging? The short answer is yes, but the process is often simpler than when you're buying a home.

In this article, we’ll explore why you need a solicitor or licensed conveyancer when remortgaging, what their role is, and whether you can avoid legal fees.

Why Do You Need a Solicitor for Remortgaging?

When you remortgage, you're essentially switching your existing mortgage to a new lender or negotiating a new deal with your current lender. Although you're not buying or selling a property, there are still legal steps involved, such as:

  1. Transferring the mortgage charge: The new lender needs to place a charge on your property to secure the mortgage, while the old lender’s charge needs to be removed.
  2. Title checks: The solicitor will check the property title to ensure there are no issues, such as disputes or restrictions, that could affect the new mortgage.
  3. Managing funds: If you’re borrowing more money during the remortgage, the solicitor will make sure the funds are transferred correctly.

    4. Because of these legal requirements, a solicitor or licensed conveyancer must be involved to ensure the process runs smoothly.

    What Does a Solicitor Do During the Remortgage Process?

    While remortgaging is generally quicker and easier than a property purchase, solicitors still perform several key tasks, including:

    • Checking your title deeds: Your solicitor will verify that the property title is clear and there are no legal issues that might prevent the remortgage.
      • >Dealing with the existing lender: They will liaise with your current mortgage provider to obtain a redemption statement, which shows how much is left to pay on your mortgage.
    • Arranging the transfer of funds: Once your new mortgage is in place, the solicitor will ensure that the old mortgage is paid off and any surplus funds are transferred to you.
    • Registering the new mortgage: The solicitor will also ensure that the new mortgage is properly registered with HM Land Registry.

    In most cases, the legal work involved is straightforward, but it still requires a solicitor’s expertise to ensure there are no mistakes.

    Do You Always Need to Pay for a Solicitor When Remortgaging?

    The good news is that, in many cases, the cost of a solicitor is covered by the lender. Many mortgage providers offer "free legal services" as part of their remortgaging package. This means they will appoint a solicitor or conveyancer to handle the legal work for you at no extra cost.

    However, there are some situations where you may need to hire your own solicitor, such as:

    • If you’re making significant changes: For example, if you’re removing or adding a person to the mortgage (like during a divorce or when buying out a partner), the process is more complex, and you might need to pay for separate legal advice.
    • If your lender doesn’t cover legal fees: Not all remortgage deals include free legal services, so be sure to check before committing.
    • If you prefer using your own solicitor: You may choose to hire your own solicitor rather than use the lender’s appointed one. In this case, you will need to pay for their services.

    Can You Remortgage Without a Solicitor?

    In rare cases, you may not need a solicitor for remortgaging, particularly if you’re staying with the same lender and are simply negotiating a new rate or deal. This process is often referred to as a product transfer and typically doesn't involve legal work because the mortgage provider remains the same.

    However, if you're switching lenders or borrowing more money, a solicitor or conveyancer will be required to handle the legal aspects of the transaction.

    Conclusion

    In most cases you do need a solicitor when remortgaging, especially if you're switching lenders or making significant changes to your mortgage. The solicitor ensures that all legal aspects of the remortgage are handled correctly, from title checks to the transfer of funds.

    Whilst many lenders offer free legal services as part of their remortgage deals, it’s always worth checking with your lender about what's included and whether you need to hire your own solicitor, especially if your situation is more complicated.

    If you’re considering a remortgage, understanding the role of a solicitor can help you navigate the process smoothly and ensure that everything is legally sound.

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