Do I need a solicitor when I remortgage?

You do not always need a solicitor if you remortgage.

 If you’re just obtaining a further advance (i.e. borrowing additional money on your existing mortgage with your existing lender) then there are no legal charges for this, only charges associated with increasing the loan and repayments.

If you remain with your current lender and simply move to a new rate, this is called a product transfer and requires no additional legal work.

Otherwise a remortgage will require you to have a solicitor or conveyancer to assist with the legal work.

Most lenders will include a free legal package in their remortgage deals but check that this is actually free! If your new lender’s legal package isn’t free enquire to see if you can shop around and appoint your own solicitor or conveyancer.

If you are adding or removing someone to or from your existing mortgage then you will need to appoint a solicitor as you are changing the ownership of the property. This is also known as a transfer of equity. You will need a solicitor to amend the title deeds for you and help draw up paperwork specifying who will own the property.