Do I need a conveyancing solicitor if I am remortgaging?

July 25, 2018

A top Warrington conveyancing solicitor has offered tips and advice to the thousands of people who remortgage each week.

Whether remortgaging to move to another lender to take advantage of a lower interest rate, or to raise money for another property, engaging a trusted property law firm is crucial.

A mortgage adviser may recommend a firm of solicitors, but it’s important to do your own due diligence and research for the right company to handle your transaction.

Amanda O’Hare, partner and member of the conveyancing department at Watsons Solicitors, discusses the key points people should take into consideration.

She said: “Some studies show that approximately 40,000 remortgages are actioned monthly. It’s normal for people to pursue lower interest rates, or use the process to raise capital, and it’s important to seek expert help to avoid any costly errors.

“My first piece of guidance is to line up your chosen solicitors in advance, which is often one month ahead of the end of your current fixed-term mortgage. However, check your lender’s terms and conditions as some have no exit fees if you cancel within 60 days, which means you can start the process sooner.

“There is typically less work involved for a solicitor in a remortgage, and people may assume it’s something they can handle themselves. However, it’s not as simple as something like switching credit card providers, and it requires expert input as there is still a lot of background legal work.

“For example, the new lender will request to carry out similar checks on the property that your existing lender will have completed at the outset. This is normal and it is to ensure the property they are loaning money for meets their expectations. A conveyancing solicitor will take care of all of this and liaise with the new lender.

“A property solicitor will also deal with transferring all monies including settling the existing lender’s loan, as well as contact the Land Registry to update title deeds and share the relevant documentation with all parties.”

Watsons Solicitors’ property team is headed up by Stephen Martin, with Amanda joined by Kerry Baird, and Michaela Johnson in the department.

Amanda, who has been with Watsons Solicitors for three years, specialises in residential conveyancing.

Founded more than 60 years ago, Watsons Solicitors specialises in wills and probateemployment law, conveyancing, and family law.

Its experienced solicitors each hold accreditations and memberships of professional bodies relevant to their expertise, while the firm’s partners oversee all areas of work.

Contact Us

If you are interested or require any information on any of our services then please get in touch for an appointment on:

 01925 571 212
Mon-Fri: 9am - 5pm

Latest News

Revolutionised divorce process helping Cheshire law firm deal with surge in enquiries

Vital digital changes in the divorce process is helping one Cheshire law firm handle a significant increase in enquiries. Watsons Solicitors are finding an increase in enquiries from individuals seeking support for a range of family matters following the relaxation of lockdown during the COVID-19 crisis. Enquiries regarding divorce have seen a particular increase and […]

Legal partner talks COVID-19 and community on radio station

A partner at a leading Warrington law firm has appeared on a local radio station to talk about the impact the coronavirus is having on the legal world. Danny Hudson, a partner at Watsons Solicitors also discussed on Radio Warrington’s Business Bites programme the importance of the firm’s community work. Adaptations have been made with […]

Employment law specialist urges businesses to act quickly with furlough decisions

A Cheshire-based employment law specialist is urging businesses to take note of the government’s furlough updates, with one of the key deadlines fast approaching. The current scheme ends on 30 June, with a new flexible coronavirus job retention support programme scheduled to operate until the end of October. However, the new scheme is only available […]

Employment law specialist urges caution as employees return to the workplace

A Cheshire employment solicitor is warning employers to be mindful of potential costly mistakes as lockdown measures ease.   Under updated guidelines, those unable to work from home are allowed back into the workplace, with businesses issued with government guidance on keeping them as safe as possible.   There are concerns across England about the […]

Watsons Solicitors
Children Law Accredited
Conveyancing Quality
Criminal Litigation
Family Law Advanced
Personal Injury

Watsons Solicitors is a trading name of Watsons Solicitors Warrington LLP a Limited Liability Partnership registered in England and Wales registered number OC386012 whose registered office is 13 Bold Street, Warrington, WA1 1DJ.

Watsons Solicitors Warrington LLP is authorised and regulated by the Solicitors Regulation Authority number 598547.

Watsons Solicitors
Warrington
Cheshire
WA1 1DJ

01925 444 323
Website managed by Outwrite PR, an online reputation management agency
envelope-oclock-ophonefax linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram