Cashback Remortgages · Remortgaging
Legal Work When Remortgaging
A remortgage to a new lender needs some legal work, though it is usually lighter than a purchase. Many deals include free legals for standard cases.
What the legal work covers
The conveyancer redeems your old mortgage and registers the new one, carrying out the necessary checks. For a straightforward remortgage with no ownership change, this is relatively simple.
Many remortgage deals include a free legal service, though a fee may apply for more complex cases.
Transfer of equity
If you are adding or removing someone from the ownership, that is a transfer of equity and involves extra legal work and possibly tax. This changes the timeline and costs.
Sources and further reading
General mortgage information, not a personal recommendation. Lender criteria and scheme rules can change. Ask an adviser about your circumstances and a solicitor or tax adviser about legal or tax questions. Your home may be repossessed if you do not keep up repayments on your mortgage. Most buy-to-let mortgages are not regulated by the FCA.
Discuss the next step for your mortgage
Understand your options before you make a decision.