Personal

Remortgage Solicitors

Our property solicitors can help you ensure that the process of remortgaging is as simple and stress-free as possible.

SOLVING PERSONAL LEGAL MATTERS

What is Remortgaging?

Remortgaging is the process of switching from one mortgage lender to another in order to obtain a better interest rate, terms or conditions. It can also be used to raise additional finance against the property. A specialist conveyancer can assist with the remortgaging process by preparing and submitting the necessary legal documents and ensuring that the remortgage is completed smoothly and efficiently.

If you've decided to remortgage your home, Forbes Solicitors can make sure the process is as simple and as stress free as possible.

Remortgaging could be a great idea if you are looking for ways to save money on the repayments on your property by getting a better rate mortgage from a lender.

In today's current climate remortgaging is becoming quite popular with property owners looking to save money, but it's also very easy for people to get the wrong solicitor handling their transition and then finding themselves in financial strife when a detail has been missed.

At Forbes, we work with you to make sure you fully understand the remortgage conveyancing process and make sure you're aware of any legally binding conditions.

Forbes Remortgaging Conveyancing Service

Our remortgaging solicitors offer a completely tailored service and keep your best interests at the heart of everything we do, ensuring you're kept up to date with every aspect of your remortgaging process by phone and email.

We understand that the legal aspects of residential conveyancing, including buying, selling or remortgaging are inherently stressful, and as such make sure you only deal with the solicitor responsible for your case to ensure peace of mind throughout the process.

As the remortgage conveyancing process of remortgaging can be a little confusing, it's vital you have the best team on your side with experience in this area.

We can handle every aspect of your remortgage instruction, from the initial request of title deeds to your existing lender, right through to completion where we will register your new mortgage at the Land Registry, ensuring all documents are sent to all applicable parties.

Expert Remortgaging Advice

If you are looking to remortgage your property, let Forbes assist you and make sure you're getting the best service available from expert remortgaging solicitors.

With a commitment to exceptional customer service and a reputation as solicitors who get the job done, you're in great hands when you instruct Forbes to handle your remortgaging case.

How can our remortgage solicitors help?

Our conveyancing team are highly experienced in manage remortgages, helping the entire process to go as smoothly and quickly as possible, with the specialist knowledge to handle any eventuality and a dedication to keeping you up to date with progress at all times.

The team at Forbes can offer this expert help at every stage of your remortgage.

Why choose us as your remortgage solicitors?

In an ideal world, remortgaging your home should be relatively quick and hassle-free, as you aren't moving house or starting a brand new property purchase from scratch. However, things don't always go as planned and there can be complexities that arise in some cases. Our services have the necessary experience to deal with this and keep your remortgage on track.

If you are remortgaging and you need a specialist solicitor to handle the transaction, get in touch with Forbes and take advantage of our many years' experience in conveyancing law.

For free initial advice call us today on 0800 689 1358 or contact us for expert and friendly advice when remortgaging.

Additional Information

What are the costs of remortgaging?

Our charges are broken down into costs and disbursements. Disbursements are costs payable to third parties such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.

Our estimates and quotes will give a breakdown of all charges and will then have a total figure, which is inclusive of VAT.

Remortgage solicitor fees and other costs

The average costs on a remortgage are £325 plus VAT at 20%

Search Pack (if required)
SIM search
Land Charges Search fee

If a search pack is not required the average cost will be in the region of £20. If a search pack is required the cost will range between £200 - £300 Plus VAT at 20%.

We make an additional charge of £25 plus VAT at 20% for each telegraphic transfer of monies that is required during the transaction.

If required, we will charge a fee of up to £15.00 plus VAT for each check to verify your identity.

If required, we will charge a fee of £12 plus VAT to verify bank details of the law firm on the other side of the transaction.

Land Registry fees are also payable based on the amount of money being borrowed. Land Registry Scale 2 fees:

Value or amount	Apply by post	Apply using the portal or Business Gateway, for transfers of whole, charges of whole, transfers of charges and other applications of whole of registered titles	Apply using the portal or Business Gateway for registration of transfers of part, and all other Scale 2 applications that do not affect the whole of a registered title
0 to £100,000	£40	£20	£40
£100,001 to £200,000	£60	£30	£60
£200,001 to £500,000	£80	£40	£80
£500,001 to £1,000,000	£120	£60	£120
£1,000,001 and over	£250	£125	£250

Our fees assume that:

This is a standard transaction and that no unforeseen matters arise for example (but not limited to) a defect in the legal title which requires remedying prior to completion or the preparation of additional documents, for example a Declaration of Trust
For lease transactions this is an assignment of an existing lease
That the transaction is concluded in a timely manner and that there are no unforeseen complications
Additional payments may apply if indemnity policies are required
If there is a ground rent, rent charge or Management Company involved further payments to third parties are likely to be required.

In the overall solicitor cost for remortgage, we charge additional fees for the following:

New build
Help to Buy Mortgages (but not Isa's)
Verifying identity and additional source of funding from third parties other than our clients
Shared ownership properties
Checking auction packs where the transaction needs to be expedited.

Please note that Stamp Duty, VAT and other payments may be subject to variation.

It is a good idea to know what is involved and understand how the process works . For a more detailed guide to the process for a typical property sale and purchase see our Property Guide.

How long does remortgage conveyancing take?

A standard transaction will take approximately 8 weeks from the time of instruction; however there can be a number of factors which impact on the timescale such as:

The number of parties in the chain
If there is a delay in your mortgage offer being issued or the offer is incorrect
If there is something unexpected in your search results
If the legal title to your property is complex
If there is a Management Company involved
The timescales wanted by other people in the chain

There are some variables with any property transaction so please either give us a call or drop us a line and we will give you a detailed breakdown of all the fees and costs involved for your particular circumstances.

How will we communicate with you?

At the outset of the transaction, we will ask you how you prefer to be contacted. If you have an email address this can save a considerable amount of time but buying and selling a property is not yet a paperless exercise so there will be some documents that will need to be signed by you. We will offer you a personal appointment in the office so you get chance to sit down with us so that we can talk you through the paperwork and the process face to face or, if you prefer, we will arrange a telephone appointment.

Contact Us

Get in touch to see how our experts could help you.

0800 689 1358

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Contacting Us

Monday to Friday:
09:00 to 17:00

Saturday and Sunday:
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FAQs

Do we need a solicitor to remortgage?

When remortgaging your property, you'll need to instruct a solicitor to handle the legal side of the process, in a similar way to when you purchased the property originally, but with slightly different work involved, which generally means it will cost significantly less in fees.

Why do you need a solicitor to remortgage?

As with any kind of property conveyancing, getting any of the legal requirements, paperwork or documents wrong can cause all kinds of issues and be very costly to resolve when remortgaging. For this reason, it's important to use a remortgage conveyancing solicitor to deal with the legal side of the changes being made.

What does a solicitor do when remortgaging?

When you're remortgaging a property, a new charge needs to be registered to the property and the old one removed, which needs to be done via the Land Registry. Your solicitor will handle this process as well as managing the transfer of funds and all of the other legal work required by the lender as you're essentially applying for a new mortgage.

Does it cost to remortgage with the same lender?

If you're staying with the same lender but with new mortgage terms then this is often a straightforward product transfer rather than a remortgage, which may have an arrangement fee associated with it but will not require conveyancing so there will not usually be solicitor fees.

Our expert remortgage conveyancing team can help give you a quote on our fixed fee conveyancing services for remortgages, to ensure that there are no unexpected surprises when it comes to these costs. Get in touch to find out more.