If you're switching to a new lender, you'll normally need a solicitor or conveyancer to complete the legal work involved in transferring the mortgage from one lender to another. Your conveyancer will handle tasks such as redeeming the existing mortgage, registering the new lender's charge against the property, and ensuring all legal requirements are met.

Remortgage timescales vary depending on the property type and circumstances of your case. As a general guide, a straightforward freehold remortgage takes around six weeks, while leasehold remortgages can take at least three months due to additional checks and requirements.

More complex cases, such as shared ownership, can take several months, or in some circumstances, up to a year. Your conveyancer will keep you updated throughout the process.

Your conveyancer will complete several checks during the remortgage process, including:

These ensure your new lender is protected and the property meets their lending criteria.

In most cases, the equity released from your current home can be used as a deposit for the new property, meaning you may not need to save a separate cash deposit. However, you will still need to meet lender loan-to-value and affordability checks, and you may need to budget for any upfront costs.

You can usually secure a new mortgage deal six months in advance of your current mortgage term ending. Starting early gives you more time to compare lenders, gather the required documents, and ensure your new mortgage is ready when your existing deal expires.