Remortgaging Solicitors in London

Remortgaging can allow you to cut your monthly mortgage payments, increase your borrowing, unlock capital from your home and more, depending on your needs. However, the process needs to be handled the right way to ensure you can get your new mortgage in place smoothly and that the terms match your needs.

Our aim at Housing and Property Law Solicitors in London is to make remortgage conveyancing as straightforward and stress-free as possible for our clients. We have decades of specialist residential property experience to pull on, so we can guide you through every stage of remortgaging safely and effectively.

Drawing on our years of experience, we have come to understand what matters most to our clients when remortgaging. As such, we offer:

  • Plain English advice – we won’t confuse you with needless legal jargon
  • Regular updates on progress – so you’re never left in the dark about what is going on or when the next step will happen
  • Swift replies to your questions – so you know everything you need to when you need to
  • Fixed fee remortgaging – giving you complete certainty over the costs involved
  • Online remortgage conveyancing – providing a safe, convenient service no matter where you are

Our team is accredited by the Law Society’s Conveyancing Quality Scheme (CQS) providing assurance of the high standards of our residential property services.

To find out more about our remortgage conveyancing services in London, please contact Ash Oberoi for initial free advice and a fixed fee estimate of our conveyancing costs.

Our remortgage conveyancing services in London

We deal with all types of remortgages, including:

  • Remortgaging for a better interest rate
  • Remortgaging to borrow more
  • Remortgaging to buy another property
  • Equity release remortgaging
  • Remortgaging to a buy-to-let mortgage

Whatever your reason for remortgaging, our property solicitors work to ensure that your property transaction runs smoothly and on time.

How remortgaging works

What does remortgaging involve?

There are various stages to the remortgaging process, including:

  1. Requesting a redemption statement – Your solicitor will contact your current mortgage lender to confirm how much is still owed on your existing mortgage and any fees you will need to pay for early repayment.
  2. Remortgage conveyancing checks – These are often required by your new lender to check for any potential issues with the property. Many lenders will accept ‘search indemnity insurance’ instead, which can be faster and cheaper. This provides cover against any issues that could arise with the property and affect your mortgage.
  3. Reviewing your remortgage offer – Your solicitor should check the terms of your new mortgage and go over them with you to ensure you are aware of all relevant conditions.
  4. Preparing the completion statement – This is a document that covers the financial details of the transaction and is needed before your remortgage can be completed.
  5. Paying off your old mortgage – Once the new mortgage has been granted, your solicitor will take charge of the funds and transfer them to your old lender to pay off your existing mortgage. Any remaining balance will then be transferred to you.
  6. Updating HM Land Registry – Your solicitor will notify the Land Registry of the remortgage so the title to your property can be updated with the details of your new lender.

How long does remortgaging take?

This will depend on the circumstances, but most remortgages can be completed in around 4 to 8 weeks, as long as there are not major complications to deal with.

How much does remortgaging cost?

This depends on the property. Some costs are fixed, such as the Land Registry fee for updating the title on the property. The legal fees we charge are based on the value of the property.

Please take a look at our remortgage pricing guide to find out more.

When is the right time to remortgage?

You will need to make this decision based on various factors, including your reason for remortgaging. Most mortgages will have an initial fixed rate period and it is usually a good idea to look at what remortgaging deals are available when this fixed rate period ends.

However, whether remortgaging makes sense at any given time will depend on whether a better rate is available and whether you have other reasons for remortgaging beyond cutting your monthly payments e.g. to increase your borrowing or rent out your old home.

Our remortgaging solicitors’ fees

We offer fixed fee remortgaging, giving you certainty over the costs involved. Our team will provide a remortgaging quote at the outset, so you know exactly how much your remortgage will cost.

For an indication of our remortgage pricing, please take a look at our remortgage pricing guide.

To request a free remortgage conveyancing quote, please contact Ash Oberoi.

Why choose HPLP Solicitors to remortgage a property in London?

Specialist conveyancing expertise

Our firm are specialists in property law – it is all that we do. As such, every member of our team is an expert in property law, unlike many firms where conveyancing work is carried out by lawyers with more general expertise.

A thorough approach to avoid the risk of any costly surprises

Our sole focus on property law means we have a detailed understanding on all of the issues that can arise during remortgaging and what can be done to avoid any negative impact on you. By taking proactive action, we can minimise the risk of potential future legal problems that could cost you a lot of time, money and stress later on.

Accreditation by the Law Society’s Conveyancing Quality Scheme (CQS)

We are proud to be accredited by the Law Society's Conveyancing Quality Scheme (CQS). This provides a recognised quality standard for residential conveyancing practices and our accreditation shows that we have achieved the standards of practice and integrity required to offer a safe, effective conveyancing service.

Get in touch with our remortgaging solicitors in London

To find out more about our remortgage conveyancing in London, please contact Ash Oberoi for initial free advice and a fixed fee estimate of our conveyancing costs.