"You’ve found a better mortgage deal, your fixed rate is ending soon, and you’re ready to switch—so how long will the remortgage process take? Weeks? Months? Can delays cost you extra money?"
For many homeowners, remortgaging should be straightforward, but the reality is that the process can take anywhere from 4 to 8 weeks, sometimes longer. If you’re not prepared, delays in legal checks, property valuations, or lender approvals could cost you more in interest—or even put your deal at risk.
In most cases, remortgaging takes between 4 and 8 weeks. However, the legal conveyancing process—which ensures your new mortgage is legally registered and your old one is properly discharged—can be a key factor in determining whether your remortgage is quick and smooth, or slow and frustrating.
Timelines vary because multiple steps are involved:
The good news? You can speed up the process by preparing early, avoiding common mistakes, and working with an experienced conveyancing solicitor. In this guide, we’ll break down:
Remortgaging means switching your current mortgage to a new deal, either with your existing lender or a different one. Homeowners remortgage to secure a better interest rate, release equity, or avoid higher repayments when their current deal ends.
A remortgage involves applying for a new mortgage, often with a different lender, requiring affordability checks and legal work. A product transfer is when you stay with the same lender and switch deals, usually with fewer checks but sometimes at less competitive rates.
Remortgaging is faster and simpler than buying a home since you already own the property. However, it still requires legal work to transfer lender records and register the new mortgage.
Remortgaging is more than just switching to a better mortgage deal—it is a legal transaction that requires expert handling. Without proper legal oversight, delays, unexpected costs, or even rejected applications can occur. At TBI Solicitors, our conveyancing team ensures that the legal process runs smoothly, protecting your interests while making your remortgage as quick and stress-free as possible.
A conveyancing solicitor plays a crucial role in ensuring that all legal and financial aspects of the remortgage are handled correctly. Even if your mortgage application is approved, the process cannot be completed until the legal formalities are resolved.
At TBI Law, we handle every aspect of the remortgage conveyancing process, including:
By choosing TBI Solicitors, you get expert legal support from start to finish, reducing the risk of delays and unexpected legal issues.
Many homeowners confuse the roles of a conveyancing solicitor and a mortgage broker when remortgaging. While both are involved in the process, their functions are entirely different:
|
Role |
Mortgage Broker |
Conveyancing Solicitor |
|
Purpose |
Finds and arranges the best mortgage deal based on financial eligibility. |
Handles the legal aspects of switching your mortgage. |
|
Main Responsibilities |
Compares mortgage rates, submits applications, advises on affordability. |
Reviews legal documents, checks property title, ensures compliance with lender requirements. |
|
Lender Liaison |
Works with lenders to secure the best rate for the borrower. |
Works with lenders to legally transfer the mortgage and register the new loan. |
|
Handling Funds |
Does not handle mortgage funds. |
Ensures the secure transfer of mortgage funds and clears outstanding debt on the previous mortgage. |
In short, a mortgage broker helps find the best financial deal. A conveyancing solicitor ensures the legal process is completed correctly. Without legal representation, your remortgage cannot be finalised, making a solicitor an essential part of the process.
When remortgaging, several key legal documents must be reviewed and processed to complete the transaction. TBI Solicitors ensures that every document is handled with precision, avoiding errors that could delay your remortgage.
A Mortgage Deed is the legal document that secures your new mortgage against your property. By signing it, you agree to the lender’s terms and conditions. We ensure that:
We review your property’s title deeds to ensure there are no legal issues that could prevent the remortgage from proceeding. If the property has restrictions, we resolve these before they cause delays. Common title issues include:
A redemption statement is issued by your existing lender and confirms:
We liaise with your lender to obtain this statement as early as possible, ensuring there are no unexpected fees or issues that could affect your remortgage plans.
Remortgaging is a legal process that requires specialist expertise, and choosing the right solicitor can make a significant difference in how smoothly it runs. At TBI Solicitors, we provide:
If you are considering remortgaging, our experienced conveyancing team can handle the legal work efficiently, ensuring a seamless transition to your new mortgage.
The remortgaging process typically takes four to eight weeks, but the exact timeframe depends on several factors, including lender processing times, legal work, and property-related complications. Understanding the key stages of remortgaging can help homeowners plan ahead and avoid unnecessary delays.
For most homeowners, a standard remortgage follows this general timeline:
However, some cases take longer due to property complexities, lender processing delays, or legal issues. In straightforward cases, particularly when staying with the same lender, a remortgage can be completed in as little as two to four weeks. It's crucial to have a solicitor in place when remortgaging to make sure everything goes to plan, otherwise this process could take longer.
Several factors influence how quickly a remortgage can be completed.
Lenders vary in how quickly they process remortgage applications. Some can issue mortgage offers within a few days, while others take several weeks to conduct affordability checks, property valuations, and legal approvals. Choosing a lender with a fast turnaround can significantly speed up the process.
A proactive conveyancing solicitor is essential for a smooth remortgage. Delays often occur when solicitors take too long to handle title checks, redemption statements, and legal paperwork. Working with a solicitor who specialises in efficient remortgaging services, like our conveyancing solicitors, can help prevent unnecessary hold-ups.
Certain property-related issues can slow down the remortgage process, particularly for leasehold properties, shared ownership homes, or properties with legal restrictions. Common complications include:
Lenders assess financial eligibility before approving a remortgage. Delays can occur if:
Checking credit reports and financial documents in advance can help ensure the process runs smoothly.
The remortgage process follows a series of key stages, which will be explored in more detail in the next sections:
Assessing your current mortgage and eligibility – Checking existing mortgage terms, outstanding balance, and any early repayment charges.
Choosing a new mortgage deal – Comparing interest rates, fees, and lender offers.
Lender application and approval – Submitting documents, undergoing credit checks, and receiving a mortgage offer.
Legal conveyancing work – Title deed checks, handling redemption statements, and ensuring lender requirements are met.
Mortgage completion and registration – Finalising the remortgage, repaying the old lender, and registering the new mortgage with HM Land Registry.
Remortgaging should be straightforward, but delays can cause unnecessary stress and financial strain. Acting early and working with the right professionals can help ensure a smooth and efficient process. Below are key strategies to speed up your remortgage and avoid common pitfalls.
One of the biggest mistakes homeowners make is waiting too long to remortgage. Many lenders allow you to secure a new mortgage three to six months before your current deal ends. This gives you enough time to compare deals, gather documents, and complete legal checks before moving onto a lender’s Standard Variable Rate (SVR), which is usually higher.
Tip: Check your mortgage agreement to see when your fixed term ends and start researching deals well in advance.
Missing or incomplete paperwork is one of the most common causes of remortgage delays. Preparing your documents before applying can significantly speed up the process. Lenders typically require:
Tip: Ensure all details on your documents are accurate and up to date to avoid further verification requests.
Lenders assess your credit score when deciding whether to approve your remortgage application. If there are any errors or negative marks on your report, it could delay or even prevent approval. Checking your credit report early allows you to correct inaccuracies and improve your score if needed.
Steps to take:
Some lenders process remortgage applications much faster than others. If speed is a priority, choose a lender known for quick approvals and minimal processing delays.
Legal work is essential for remortgaging, and choosing the right solicitor can make a huge difference in the timeline. Our proactive conveyancing solicitors will ensure that legal checks, title deed reviews, and lender requirements are handled quickly and correctly.
At TBI Solicitors, we:
Communication delays between you, your lender, and your solicitor can slow down the remortgaging process. Keep track of your application’s progress by regularly following up and responding quickly to any information requests.
To keep your remortgage on track, be aware of potential delays and how to prevent them:
Releasing equity through a remortgage allows homeowners to unlock a portion of their property's value as a lump sum or additional borrowing. While a standard remortgage typically takes four to eight weeks, equity release can involve additional checks, which may extend the process.
Equity release in a remortgage refers to borrowing more than your remaining mortgage balance, using the value you have built up in your property. Homeowners do this to:
Unlike traditional equity release schemes (such as lifetime mortgages), remortgaging to release equity involves taking out a new mortgage with a higher loan amount, rather than an interest-rolled loan repaid after selling the property.
Releasing equity through a remortgage requires additional lender checks and legal work, which can make the process slightly longer than a straightforward remortgage. Key factors that can affect the timeline include:
Lenders must assess your property’s current market value to determine how much equity is available. If property values have increased, homeowners may be able to borrow more.
The amount of equity you can release depends on your Loan-to-Value (LTV) ratio.
Even if you have significant equity, lenders will still perform income and affordability checks to ensure you can manage the increased mortgage repayments. If your income has changed since taking out your original mortgage, additional documentation may be required, potentially slowing down approval.
A conveyancing solicitor is required to handle the legal aspects of an equity release remortgage. The process includes:
Leasehold properties may require freeholder consent, which can extend the timeline further.
|
Remortgage Type |
Estimated Timeline |
Key Differences |
|
Standard Remortgage |
4–8 weeks |
Straightforward lender checks, basic legal work, and property valuation. |
|
Remortgage with Equity Release |
6–10 weeks |
Additional valuation, lender affordability assessments, and more complex legal work. |
Once your remortgage is completed, funds are typically released within 24 to 48 hours, though equity release cases may take up to five working days.
Remortgaging comes with various costs, some of which are avoidable, while others are necessary expenses. Understanding these costs can help you budget effectively and determine whether remortgaging is the right financial decision.
A conveyancing solicitor is required when switching lenders to handle the legal transfer of the mortgage. Solicitor fees typically range from £300 to £1,000, depending on property type and complexity.
At Tilly Bailey & Irvine, we offer transparent pricing with no hidden fees, ensuring your remortgage process is handled efficiently and cost-effectively.
Lenders may charge several fees when setting up a new mortgage:
If you leave your current mortgage before the fixed term ends, you may have to pay an Early Repayment Charge (ERC), usually a percentage of the outstanding mortgage balance.
Yes, but leaving your current mortgage before the fixed term ends may trigger Early Repayment Charges (ERCs). These fees typically decrease as you near the end of your deal. Before remortgaging early, calculate whether the savings from a lower interest rate outweigh the costs of switching.
Yes, but only temporarily. Lenders perform hard credit checks, which can slightly lower your score. However, keeping up with repayments on your new mortgage can help improve your credit rating over time. Multiple applications within a short period may negatively impact your score.
Yes, you can release equity by borrowing more than your remaining mortgage balance, provided you meet affordability checks and lender criteria. The amount available depends on your Loan-to-Value (LTV) ratio, income, and credit history.
Start looking three to six months before your current mortgage deal ends. This ensures you secure a new deal before your lender moves you onto their Standard Variable Rate (SVR), which is usually higher. Early planning also helps avoid delays in legal processing.
Remortgaging involves legal and financial complexities that can lead to delays if not handled correctly. Having an experienced conveyancing solicitor ensures a smooth, stress-free process.
At TBI Solicitors, we provide expert legal support, handling all paperwork efficiently and ensuring compliance with lender requirements. Our proactive approach helps speed up your remortgage while avoiding costly mistakes.
Looking to remortgage? Contact us today for fast, reliable conveyancing support.
