Do I need a conveyancer for a re-mortgage?
Unless you are staying with the same lender, in the majority of re-mortgage cases you will need to appoint a conveyancer to do the legal work for you. Most lenders require searches to be undertaken, although some lenders do accept search indemnity insurance.
A conveyancer will deal with any searches, seamlessly pay off your old mortgage, set up your new mortgage and register the new lender’s interest in your property at the Land Registry.
Some lenders have in-house conveyancers who will attend to the formalities of a re-mortgage, but in most cases, especially if you are switching lenders, you will likely have to appoint an independent conveyancer to ensure all aspects of the re-mortgage process are adhered to correctly.
The average re-mortgage can take between 4 – 8 weeks, depending whether full searches are required on.