What Is Remortgage Conveyancing?
When you switch to a new mortgage lender, your conveyancer handles the legal paperwork to remove the old lender's charge from the Land Registry and register the new lender's charge. It's the same property - you're not buying or selling - so the process is much simpler.
How Much Does Remortgage Conveyancing Cost?
Typical cost: £400–£800 including legal fees and disbursements - significantly less than purchase conveyancing (£1,200–£2,000) because no searches are needed and there's less legal work involved.
Cost Breakdown Example
| Item | Cost |
|---|---|
| Legal fees (+ VAT) | £420 |
| Land Registry search | £6 |
| Land Registry registration fee | £40–£90 |
| Bank transfer fee | £30 |
| ID verification | £10 |
| Total | £506–£556 |
Free legals: Many lenders offer to pay your conveyancing costs as an incentive. The lender selects the firm from their panel - you don't choose - but the work is done properly and it's genuinely free.
The Remortgage Process: Step by Step
1. Mortgage Application (Week 0)
Find and apply for your new mortgage. Once you have a formal mortgage offer, instruct your conveyancer.
2. Legal Work (Week 2–4)
Your conveyancer requests a redemption statement from your current lender (exact amount needed to pay off the existing mortgage), reviews the new mortgage offer, prepares the legal charge document, and asks you to sign the mortgage deed.
3. Completion (Week 4–6)
On the agreed date, the new lender sends the mortgage funds. Your conveyancer pays off the old mortgage, registers the new lender's charge, and sends any surplus funds to you (if you're releasing equity).
4. Post-Completion (Week 6–8)
Your conveyancer confirms registration is complete and sends final accounts. Done.
Remortgage vs Product Transfer
| Aspect | Remortgage (new lender) | Product Transfer (same lender) |
|---|---|---|
| Conveyancing needed? | Yes | No |
| Cost | £400–£800 | Free or minimal admin |
| Timeline | 4–8 weeks | 1–2 weeks |
| Rate competition | Full market | Current lender only |
Do You Need Searches?
In most cases, no. You already own the property and the new lender relies on the original purchase searches. Some lenders may request searches for high-value properties or if you bought more than 10 years ago, but this is rare.
Remortgage for Equity Release
If your new mortgage is larger than your old one (for example, borrowing against equity you've built up), the conveyancing process is identical. The cost doesn't change.
Leasehold Remortgage: What to Watch
Short lease (under 80 years): Many lenders refuse to lend. You may need to extend the lease first - a separate legal process costing £5,000–£20,000+. High service charges or building defects: Some lenders also refuse. Your conveyancer will flag these issues upfront.
Free Legals vs Cashback: Which Is Better?
Compare the total cost of each deal over the full mortgage term. A lower interest rate often outweighs cashback or free legal savings. Run the numbers on both options before deciding.
Common Remortgage Mistakes
- Waiting until your deal expires - apply 3–6 months early to avoid the expensive standard variable rate
- Ignoring early repayment charges - ERCs can be £3,000–£10,000 if you're still in a fixed period
- Choosing the cheapest conveyancer - slow firms can miss rate deadlines, causing you to lose the mortgage offer
- Not checking lender panel membership - your conveyancer must be on your new lender's panel
Questions to Ask Your Conveyancer
- What is your total fixed fee including all disbursements?
- Are you on my new lender's approved panel?
- How long will the process take?
- Who will handle my case?
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