Do I need a solicitor for a remortgage?

If you`re coming to the end of an existing mortgage deal - or if you think it may be worth changing your existing terms - it may be time to consider a remortgage.

There are two people (or companies) you`ll need to work with when setting up your remortgage: your lender, who provides the remortgage deal, and a solicitor, who will carry out the necessary legal work.

Remortgage: step-by-step

To begin with, you`ll need to find a suitable remortgage deal. Ideally, you`ll be looking for the best possible interest rate for your circumstances, along with the lowest arrangement fees (although it`s hard to get both, so you may have to compromise somewhere).

There are a number of ways you can search for the right deal - online, on the High Street, or through an expert mortgage adviser.

Once you`ve found a suitable deal, you can make your application. If this application is approved in principle, your lender will carry out a valuation of your home, then (assuming all is well) instruct your chosen solicitor to carry out the legal work.

Once the legal side of things has been taken care of, you`ll be given a completion date, after which your mortgage will be in the name of your new lender and you will be responsible for making regular payments to them.

Remortgage with Think Money

Think Money could help you find the right remortgage deal from our panel of High Street lenders. We could give you a free, no-obligation quote - and if you like the deal you`re offered, we`ll take care of all the paperwork on your behalf.

For more information on mortgages and remortgages, click here or call 0800 195 2913 today.

Tags: remortgage, solicitor, lawyer, mortgage, remortgage solicitor, getting a remortgage, get a remortgage

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