Most people assume remortgaging always involves a solicitor in the same way buying a property does. That is not always the case. The type of remortgage you are doing determines whether legal work is required, and understanding the difference can save you both time and money.
Product transfer vs full remortgage
This is the distinction most people miss when searching for an answer.
A product transfer is when you stay with your existing lender but move onto a new rate or deal at the end of your fixed term. Because the lender remains the same and the mortgage deed does not change, no legal work is required and no solicitor is needed.
A full remortgage is when you switch your mortgage to a new lender entirely. This involves new legal documentation, a new mortgage deed and registration at HM Land Registry. A conveyancing solicitor must handle this work and it cannot be done without one.
If you are unsure which type applies to your situation, your mortgage broker or current lender will be able to confirm it.
What does a remortgage solicitor do?
When you remortgage to a new lender, your solicitor carries out a specific set of legal tasks on your behalf and on behalf of the new lender. These typically include:
- Checking the title of your property to confirm there are no issues that would affect the new lender's security
- Reviewing the existing mortgage and confirming the redemption figure with your current lender
- Preparing and executing the new mortgage deed
- Registering the new mortgage at HM Land Registry and removing the old lender's charge
- Liaising with both lenders throughout the process to ensure funds are transferred correctly on completion
The lender has a legal interest in the property and requires a solicitor to protect that interest. This is why the requirement is non-negotiable for a full remortgage.
Free legal work from your lender
Many lenders offer free legal work as part of their remortgage package. It is worth understanding what this means in practice before accepting it.
When a lender offers free legal work, they are typically appointing a solicitor from their own panel to act for both you and them. The solicitor's primary obligation in this arrangement is to the lender. For a straightforward remortgage with no complications, this is usually fine.
However, if your remortgage involves anything additional, such as a transfer of equity, a change to the ownership structure, or a deed of trust, you are likely to need your own independent solicitor regardless of what the lender is offering.
It is also worth checking whether the "free" legal work is genuinely free or whether the cost has been built into the rate or arrangement fee. Our remortgage conveyancing service gives you a fixed fee quote upfront so you know exactly what you are paying.
How much does remortgage conveyancing cost?
Remortgage conveyancing is generally less complex and less expensive than purchase conveyancing. There is no chain, no searches are usually required, and the process is more straightforward.
Legal fees for a standard remortgage typically sit in the range of £300 to £700 depending on the value of the property and the complexity of the transaction. Our guide to conveyancing fees covers the full breakdown.
Disbursements on a remortgage are minimal compared to a purchase, usually a Land Registry fee and an official copy of the title register. There is no stamp duty on a straightforward remortgage.
How long does remortgage conveyancing take?
A standard remortgage typically completes in four to eight weeks from the point of instruction, though this can vary. Our guide tohow long conveyancing takes covers timescales in more detail.
The main factors that affect timing are how quickly your current lender provides the redemption statement and how responsive all parties are to requests for information. A remortgage involving a transfer of equity will take longer, as it involves additional legal work.
Remortgaging with a transfer of equity
If your remortgage also involves adding or removing someone from the mortgage, for example following a separation or adding a partner, this is called a transfer of equity. It requires additional conveyancing work on top of the standard remortgage process.
Our transfer of equity service covers this in full, and both elements can usually be handled by the same solicitor at the same time.
Understanding equity and loan-to-value
Equity is the difference between the current value of your property and the amount you still owe on your mortgage. It matters for remortgaging because lenders will only lend up to a certain percentage of the property's value, known as the loan-to-value ratio (LTV).
As a straightforward example: if your property is worth £275,000 and you owe £175,000 on your mortgage, your equity is £100,000 and your LTV is around 63%. The lower your LTV, the better the rates you are likely to be offered.
If you are remortgaging to release equity by borrowing more against the property, your LTV will increase. Using the same example, releasing £50,000 would take your outstanding balance to £225,000 and your LTV to around 82%. This may affect which lenders and rates are available to you.
Early repayment charges
Most fixed-rate mortgage deals include early repayment charges (ERCs) if you leave before the fixed term ends. If you are considering remortgaging before your current deal expires, it is worth calculating whether any ERC outweighs the saving from switching to a better rate.
Your mortgage broker can run this calculation for you. Your remortgage solicitor will confirm the ERC figure as part of the redemption process with your current lender.
Ready to remortgage?
If you are switching to a new lender and need a conveyancing solicitor to handle the legal work, Homeward Legal works with a panel of regulated remortgage solicitors who will start work as soon as you appoint them. Every quote includes a fixed legal fee, so you know what you are paying before you commit. Get an instant quote online or speak to our friendly team on .
Frequently asked questions about needing a solicitor for a remortgage
Do you need a solicitor to remortgage?
It depends on the type of remortgage. If you are switching to a new lender, a conveyancing solicitor is required to handle the legal work. If you are staying with your existing lender on a new deal (a product transfer), no solicitor is needed.
Why do you need a solicitor to remortgage?
When you switch to a new lender, a new mortgage deed must be prepared and registered at HM Land Registry. This is legal work that must be carried out by a qualified conveyancing solicitor. The new lender requires it as a condition of the mortgage offer.
Can I use the lender's free solicitor?
Yes, in most cases. Lenders often offer a panel solicitor as part of their remortgage package. For a straightforward remortgage this is usually fine, though the solicitor acts primarily in the lender's interest. If your remortgage involves anything additional, such as a transfer of equity or a change to ownership, you may need your own independent solicitor.
How long does remortgage conveyancing take?
Most standard remortgages complete within four to eight weeks of instruction. A remortgage involving a transfer of equity will take longer.
Do I pay stamp duty when I remortgage?
No. Stamp Duty Land Tax is not payable on a standard remortgage. It may apply if you are significantly changing the ownership structure of the property, but your solicitor will advise on this.
What is the difference between a remortgage and a product transfer?
A product transfer is when you stay with the same lender and move onto a new rate. No legal work is required. A remortgage involves switching to a new lender entirely, which requires a solicitor to carry out the conveyancing.
Do I need a solicitor if I am remortgaging and adding someone to the mortgage?
Adding someone to a mortgage involves a transfer of equity, which requires conveyancing work in addition to the standard remortgage. Both can usually be handled by the same solicitor.