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Remortgage Solicitors — Scotland
Looking to re-mortgage your home? Our experienced team of remortgage solicitors in Scotland are here to help ease the process.
Moving With The Times
"Very customer-focused service from Shawn and colleagues. It’s refreshing when an old profession moves with the times and treats clients as people, and so much different from some past experiences. I’d have no hesitation in using Waterman’s again."
R Stone, Estate Agency & Conveyancing Services
The Short of It
Remortgaging your property
means switching mortgage lenders.
You may wish to do this for many reasons,
including to transfer a title or to avail of a better deal.
Contact our dedicated conveyancing team.
We are here to get you the resolution you need and provide straightforward legal advice
We can assist with various legal services
such as transfer of title, offer independent advice, and simplify the remortgaging process. It should be that simple.
The Long of It
Re-Mortgaging
Why would I want to re-mortgage my property?
A remortgage takes place when you are changing your mortgage provider. People remortgage when:
- Their fixed-rate mortgage deal comes to an end, and the owner wants to change lenders to obtain a better interest rate
- They are changing the title position, such as after a divorce
- They want to increase their monthly payments to pay off the mortgage faster
At Watermans, our dedicated remortgage conveyancing solicitors are here to offer clear advice and take care of the legal stuff, so you don’t have to.
Solicitors?
Why use a solicitor for re-mortgaging?
A solicitor needs to be present to deal with the legal aspects of the re-mortgaging process, which includes:
- Obtaining a redemption figure from the current lender
- Arranging to discharge the current lender’s Security on the title
- Dealing with the new mortgage lender to advise them of the title position
- Arranging for you to sign new security documents to allow the new lender to have a legal charge on the building
- Gathering new lender funds to pay off the existing mortgage
- Dealing with all registrations
- Recommending a trusted mortgage broker
How Long?
How long does the re-mortgaging process take?
The re-mortgaging process can usually take from 4 to 8 weeks after you apply. However, each transaction is different, and depending on the circumstances, you may have to wait a little longer.
Why Watermans?
Why should I choose Watermans as my solicitor?
At Watermans, our property team are experts in providing clear and straightforward legal advice in relation to remortgaging a property. We understand that re-mortgaging can seem like a daunting task and that it may be an emotional time for you.
We are here to help.
Mortgage lenders may offer free legal services as part of their remortgaging package. It’s important to remember in this scenario that the solicitor is working on behalf of the lender and not you, their client.
Therefore, the standard of service can be low and often take much longer to complete.
At Watermans, we ensure your remortgage is handled efficiently with your best interests as our top priority. Contact our dedicated conveyancing solicitors today.
Legal Fees for Property Remortgaging
When you decide to remortgage your home, legal costs are the most significant expense. These fees cover the essential steps in the conveyancing process, ensuring that all legal work is completed to finalise your new mortgage deal.
What do legal fees include?
They typically cover various services, including:
- Making sure the title deeds reflect the details of your new lender or any changes to the ownership of your remortgaged property
- Managing the repayment of your existing loan with your lender or building society
- Handling the registration of your new mortgage with the Land Register of Scotland
- Ensuring smooth and accurate fund transfers between lenders
- Reviewing and fulfilling the terms of your mortgage offer to meet the lender’s requirements
Re-Mortgaging FAQs
Transfer of equity occurs when property ownership changes. This could involve adding or removing someone from the title deed. It’s often required after life events such as marriage, divorce, and inheritance.
While it’s not strictly required, it is highly recommended. An experienced property solicitor will handle all the legal aspects involved, including updating title deeds. This ensures that all property transactions are completed successfully and in compliance with Scottish property laws.
It’s also best that the transferor and transferee have their lawyers for possible conflicts of interest and to manage any complex scenarios.
This allows homeowners to unlock the value tied to their property without selling. It allows homeowners to access more money for various purposes, such as debt consolidation.
When remortgaging your house, you can increase the remortgage amount to free up equity. This involves working with your current mortgage lender or switching to a new lender offering a better deal or higher borrowing limits.
Our mortgage conveyancing lawyers ensure that the process is handled seamlessly and stress-free.
Contact our expert remortgage solicitors in Scotland today to make your remortgage process simple and stress-free.
Get in touch now for straightforward advice and efficient service.
Get in touch with us
Everything we do at Watermans is about getting you the resolution you need and making that process straightforward. Start the process by sending us your details below or calling us on 0131 555 7055
Our property expert
“My clients would describe me as being approachable, down to earth and easy to get on with. This allows me to build relationships with my clients and provide straightforward legal advice without all the jargon.”
Shawn Wood, Head of Conveyancing
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