Is Now A Good Time To Re-Mortgage?
Posted on 8th April 2020
There has, quite literally, never been a better time to Remortgage. Interest rates are at rock bottom, deals for interest rates below 2% are abundant and so, if your fixed term Mortgage has come to an end, of you want to Remortgage simply to have some funds at a very affordable rate of interest, now really is the time. MG Legal, your Conveyancing Solicitor in Lancaster, regularly assist clients who are Remortgaging, particularly in the current, favourable climate.
Financial Advice, do I need it?
There are more lenders out there than ever and so, the choice is yours. The interest is full of search engines and comparison sites and so you can likely find a very good deal on your own if you are willing to do your homework. Alternatively, a Financial Advisor is a good way to make sure you get a good deal. Most Advisors will charge you a few hundred pounds for their services. MG Legal, your Conveyancing Solicitor in Lancaster have no affiliation with any Financial Advisor and we believe this is a matter of personal choice.
When MG Legal was formed, some years ago now, the aim was simple- offer clients an excellent, affordable service, and that the firm would be completely independent of any estate agents (we do not pay referral fees to estate agents, just to be recommended by them), and any outside influences. Therefore, our conveyancing solicitors are not incentivised to advise you, as to which property surveyor to use, or indeed, which financial adviser.
Do I need a Conveyancing Solicitor?
Yes you do, the usual exception being if you simply want to switch to a new deal with your current lender. However, with so many other lenders out there and incentives for new customers usually outweighing any loyalty bonus for current ones, it is highly likely that your new Mortgage will be with another lender. In this case, you will need a Conveyancing Solicitor to satisfy your lender’s criteria and to complete formalities with the Land Registry such as removing your old Mortgage provider’s charge on the entry and applying the new one from your new lender.
How much are Solicitor’s Fees for Remortgages?
Many lenders will encourage you to use their own in-house or panel Solicitors. Our property solicitors in Preston and Lancaster, have often found panel solicitors have left clients wanting. Their selling point will likely be that their chosen Solicitor has a close relationship with them and can complete the work much faster. Please do not believe this.
Here at MG Legal, your Conveyancing Solicitor in Lancaster we disagree, the main time-consuming aspects of any Conveyance are dealing with and waiting for responses from the Land Registry, which no Solicitor can speed up, but ours do go above and beyond. It is also likely that your lender’s Solicitor will not be local and will be a bulk-Conveyancing firm working on the outskirts of a distance city. MG Legal takes pride in helping our local clients and on being accessible, approachable and efficient.
Our fees are routinely just a few hundred pounds and are nearly always lower than those of any faceless, bulk Conveyancing firms around.
How to instruct MG Legal
Contact MG Legal by phone, email, web-contact form or at any of our offices in Lancaster, Longridge or Garstang. We will provide a comprehensive quote within a few minutes, which will include our fees and any other fees, such as Land Registry and Search Fees so that you know exactly how much it will cost. Many Conveyancing firms like to offer a quote that does not include other fees to make their quote seem more competitive and then later surprise you with the unavoidable extras once the process is underway.
We are still working during the Coronavirus lockdown and whilst we have put in place certain measures to protect both staff and clients, you may rest assured that we will still be actively working and we will be contactable throughout this time.
Get in touch with MG Legal for your quote and as soon as you confirm you wish to accept this, we will have the ball rolling the same day.
MG Legal – Your Local Solicitors
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