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The Remortgage Process

Understanding the remortgage process can help you switch to a new deal smoothly. Here is a step-by-step guide on how to remortgage in the UK.

Remortgage Steps UK

Remortgaging means switching your existing mortgage to a new deal, either with your current lender or a different one. The process is similar to getting your original mortgage, but usually faster.

  1. Check your current deal (Step 1)

    Find out when your current deal ends and what rate you are paying. Check if there are any early repayment charges (ERCs) that might apply if you switch before your deal ends.

  2. Compare new deals (Step 2)

    Look at available remortgage deals from different lenders. Consider the interest rate, any fees, and the overall cost of the mortgage. A mortgage adviser can help you compare the market.

  3. Get a Decision in Principle (Step 3)

    Once you have chosen a deal, you can get a Decision in Principle (DIP) from the lender. This gives you an indication of whether they will lend to you, subject to a full application and valuation.

  4. Submit your application (Step 4)

    Complete the full mortgage application. You will need to provide documents such as ID, proof of income, and bank statements. Your adviser can submit this on your behalf.

  5. Valuation and underwriting (Step 5)

    The lender will arrange a valuation of your property. An underwriter will then assess your application and the valuation to decide whether to offer you the mortgage.

  6. Legal work and completion (Step 6)

    A solicitor will handle the legal transfer and pay off your old mortgage. Once complete, your new mortgage deal begins.

Risk warning: Your home may be repossessed if you do not keep up repayments on your mortgage. Remortgaging may increase your total borrowing costs over the term. Estimates are not guarantees.

Related Remortgage Guides

Frequently asked questions

What is the first step in the remortgage process? +
The first step is to check your current mortgage deal and find out when it ends. You should start looking for a new deal around 6 months before your current fixed rate ends to avoid moving onto your lender's Standard Variable Rate (SVR).
How do I apply for a remortgage? +
You can apply directly with a lender or use a mortgage adviser. An adviser can compare deals from across the market to find one that suits your circumstances and help you with the application paperwork.
Do I need a solicitor to remortgage? +
Yes, you need a conveyancer or solicitor to handle the legal work. Many remortgage deals include free legal work, but you should check the terms of your specific deal.
How long does the remortgage process take? +
A typical remortgage takes between 4 to 8 weeks. If you are staying with your current lender (a product transfer), it can be much faster, sometimes just a few days.
Will I need a property valuation when I remortgage? +
Most lenders require a valuation to ensure the property is suitable security for the loan. Some remortgage deals include a free basic valuation.

Suggested next steps

Related calculators and guides

Use the remortgage calculatorCompare current and possible new payment scenarios.Check overpayment impactEstimate how overpayments could affect term and interest.Remortgage case studiesRead anonymised examples of different remortgage circumstances.

Numbers first, adviser review second

Smarter Mortgage Quotes starts with clear estimates so you can understand the figures before asking for a callback. The estimates do not confirm eligibility, rates, fees or suitability.

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