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When remortgaging a property, look to Parachute Law for professional legal services.

Remortgaging a home can seem like a big undertaking. This isn't the case, though, if you have a knowledgeable property team by your side, helping you along the way and providing guidance as needed.

Transferring from one lender to another is referred to as a remortgage. The entire amount owed on the mortgage to the new lender must be paid back to the existing lender. Any money left over at the end of the case would be credited to your account.

When one person becomes the sole owner of the property, or when one person becomes the owner of two or more, this is known as a transfer of equity. This can entail switching lenders, in which case the deal is referred to as a remortgage and transfer of equity.

At Parachute Law, we provide professional guidance throughout the entire process of remortgaging your property.

We handle the legal aspect with effectiveness and efficiency so you may concentrate on other matters.

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Our Conveyancing Solicitors advise and assist with:

  • Property Sales
  • Property Purchases
  • Property Auctions
  • Joint Ownership
  • Shared Ownership
  • Transfer of Equity
  • Right to Buy
  • Purchasing the Freehold of a Leasehold Property
  • Remortgaging of a Property
  • Commercial and Land Transactions
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Our remortgage solicitor fees

Below, you will find the pricing ranges for our standard legal fees regarding re-mortgages or equity transfers for residential properties.These fees are determined based on the property's value. Kindly be aware that these fees exclude any additional costs, known as disbursements, which can be found in more detail further down the page.

Transaction type Basic Legal Fee (all subject to VAT @ 20%)
Remortgage Loan Value

Up to £250,000 - £695

£250,001 to £500, 000  - £795

£500,001 and above - £895

Transfer of equity

Transfer only - £500

Transfer with Re-mortgage  - £795

Acting for person being removed from the legal title - £500 and ID Fee of - £25


Disbursements (being payments to third parties) and other costs include;

  • Bank transfer fees (if applicable),
  • Title documents
  • Minimal HM Land Registry searches
  • HM Land Registry fee ranging from £20 to £125 (dependent on the value of the re-mortgage or money paid for the transfer, or both)
  • Searches (as set out above for purchase of a property) or a no search indemnity policy costing around £35.

Do I need a solicitor when remortgaging?

In the United Kingdom, it's not a legal requirement to hire a solicitor when remortgaging your property. However, while it's not mandatory, many lenders will require you to engage a solicitor or conveyancer to handle the legal aspects of the remortgage process.

Here are some reasons why you might need a solicitor when remortgaging:

1. Legal Documentation:

Remortgaging involves legal documentation, including the discharge of the existing mortgage and the creation of a new mortgage deed. A solicitor can ensure that these documents are properly prepared and executed.

2. Title Checks:

A solicitor can conduct necessary checks on the property title to ensure that there are no legal issues or restrictions that could affect the remortgage process.

3. Lender Requirements:

Many lenders have specific requirements regarding legal representation during the remortgage process. They may require you to use a solicitor or conveyancer from their approved panel to handle the transaction.

4. Peace of Mind:

Even if it's not required by the lender, hiring a solicitor can provide peace of mind that the legal aspects of the remortgage are being handled correctly and that your interests are protected.

5. Complex Cases:

In some cases, remortgages may involve complexities such as shared ownership, leasehold properties, or properties with title issues. In such situations, hiring a solicitor with expertise in property law can be beneficial.

In Summary

While it's possible to handle a remortgage without a solicitor, particularly for straightforward cases, it's essential to consider the specific requirements of your lender and the complexity of your situation. Even if you're not legally obligated to hire a solicitor, doing so can ensure that the remortgage process proceeds smoothly and that all legal requirements are met.

Can you be declined a remortgage?

Yes, it's possible to be declined a remortgage by a lender. Just like with a new mortgage application, lenders assess various factors before approving a remortgage. Here are some reasons why a lender might decline a remortgage application:

  • 1. Credit History: Lenders typically assess your credit history to determine your creditworthiness. If you have a history of missed payments, defaults, or CCJs (County Court Judgments), it could negatively impact your credit score and result in a remortgage application being declined.
  • 2. Affordability: Lenders assess your income and expenses to ensure that you can afford the repayments on the remortgage. If your income is insufficient to meet the lender's affordability criteria or if your debt-to-income ratio is too high, the lender may decline your application.
  • 3. Property Valuation: Lenders require a valuation of the property as part of the remortgage process. If the valuation comes in lower than expected or if there are issues with the property's condition that affect its value, the lender may decline the remortgage application or offer a lower loan-to-value ratio.
  • 4. Changes in Circumstances: Changes in your circumstances, such as a loss of income, a change in employment status, or an increase in existing debt, could impact your ability to repay the remortgage. Lenders may decline your application if they deem your financial situation to be too risky.
  • 5. Property Type: Some lenders have restrictions on the type of properties they are willing to remortgage. For example, properties with certain lease lengths, construction types, or usage (e.g., buy-to-let properties) may not meet the lender's criteria, resulting in a declined application.
  • 6. Legal Issues: Legal issues related to the property title, such as unresolved disputes, restrictions, or adverse findings during conveyancing searches, could lead to a declined remortgage application.
  • 7. Lender's Criteria: Each lender has its own lending criteria and risk appetite. Even if you meet the general eligibility requirements, your application could be declined if it doesn't align with the lender's specific criteria or if the lender determines that the risk associated with the application is too high.

If your remortgage application is declined, it's essential to understand the reasons for the decision and explore alternative options. You may consider improving your credit score, addressing any affordability issues, seeking advice from a mortgage broker, or exploring remortgage products from different lenders. Working with a financial advisor or mortgage broker can help you navigate the remortgage process and find the best solution for your circumstances.

How long do solicitors take to remortgage?

The timeline for remortgaging with solicitors can vary depending on several factors, including the efficiency of the solicitor, the complexity of the transaction, and any issues that may arise during the process. Generally, the remortgaging process can take anywhere from a few weeks to a couple of months to complete. Here's a rough outline of the typical timeline:

1. Initial Consultation and Instruction:

 (1-2 weeks)

The process begins with you instructing a solicitor or conveyancer to handle the remortgage on your behalf. This may involve an initial consultation to discuss your requirements and provide necessary documentation.

2. Title Checks and Documentation:

 (1-2 weeks)

The solicitor will conduct checks on the property title, review the existing mortgage documentation, and prepare legal documents required for the remortgage, such as the discharge of the existing mortgage and the new mortgage deed.

3. Lender's Requirements:

 (1-4 weeks)

The solicitor will liaise with your new mortgage lender to ensure that all their requirements are met. This may include providing documentation, arranging for property valuations, and satisfying any conditions set by the lender.

4. Signing and Completion:

 (1-2 weeks)

Once all legal requirements are met, you'll be required to sign the necessary documents. The solicitor will arrange for the completion of the remortgage, including the repayment of the existing mortgage and the registration of the new mortgage with the Land Registry.

5. Finalization and Registration:

 (1-2 weeks)

After completion, the solicitor will finalize the remortgage process, ensuring that all necessary documentation is submitted to the Land Registry for registration. Once the registration is complete, the remortgage is officially recorded, and you'll receive confirmation of the updated mortgage details.

It's important to note that the timeline provided is a general estimate, and the actual duration may vary based on individual circumstances and any delays that may occur during the process. Factors such as the responsiveness of all parties involved, the complexity of the property title, and the efficiency of the solicitor can all impact the timeline for remortgaging. Working closely with an experienced solicitor and providing prompt responses to any requests or queries can help expedite the process and ensure a smooth remortgage transaction.


Our conveyancing solicitors can help with;

Buying a House - Conveyancing

a House

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Selling a house - Conveyancing

a House

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Buying & Selling a House

Buying & Selling

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Transfer of Equity

Transfer of Equity
on a Property

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a Property

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Commercial Conveyancing


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