Short answer: Remortgaging in the UK usually involves some or all of these costs: a lender product or arrangement fee (often £0–£1,999), a valuation fee (often free), legal or conveyancing fees (frequently free through a lender's "free legals" package, otherwise typically several hundred pounds plus disbursements), an exit fee from your current lender, a possible broker fee, and any early repayment charge (ERC) if you leave a deal early. A product transfer with your existing lender normally needs no solicitor at all. Always compare deals on total cost over the fixed period, not on the rate alone.
Not financial advice. This is general information. Mortgage decisions depend on your circumstances. Consider speaking to an FCA-authorised mortgage broker or adviser (check the FCA Register), and see MoneyHelper's remortgaging guide.
Remortgage vs product transfer
A remortgage moves your mortgage to a new lender. The new lender must register its charge over your property, so legal work is needed. A product transfer switches you to a new deal with your current lender. There's usually no legal work and no valuation, and often less affordability checking. Product transfers are quicker and cheaper to arrange, but the best rate may be elsewhere.
| Cost | Remortgage (new lender) | Product transfer (same lender) |
|---|---|---|
| Product / arrangement fee | Often £0–£1,999 | Often £0–£1,999 |
| Valuation | Often free; sometimes a few hundred pounds | Usually none |
| Solicitor / conveyancing | Free legals or paid solicitor | Usually none |
| Exit fee (current lender) | Usually payable | Usually not payable |
| Early repayment charge | Payable if leaving mid-deal | May be waived if switching near the end of the deal (check) |
| Broker fee | £0 to several hundred pounds | £0 to several hundred pounds |
Fee ranges are typical market observations, not regulated figures. Your mortgage illustration (the European Standardised Information Sheet, or ESIS) and offer show the exact costs.
Solicitor fees for a remortgage
Because a remortgage changes who holds the legal charge over your home, a solicitor or licensed conveyancer acts for the new lender (and usually for you). Their work typically includes:
- Identity and anti-money-laundering checks.
- Checking the title at HM Land Registry and any restrictions or other charges.
- Redeeming your existing mortgage on completion day using the new lender's funds.
- Registering the new charge and removing the old one at HM Land Registry.
- Searches or search indemnity insurance, if the lender requires them.
Free legals
Many lenders include "free legals" with remortgage products. The lender pays a panel conveyancing firm for the standard work. Free legals rarely cover non-standard tasks such as a transfer of equity (adding or removing a person from the title), leasehold management packs, or resolving title defects. These usually cost extra.
Paying your own solicitor
If you choose your own firm, or the deal has no free legals, expect a fixed fee plus VAT and disbursements. Disbursements are third-party costs such as HM Land Registry fees, official copies, search fees and bank transfer charges. Ask for an itemised quote, check the firm is on the lender's panel, and confirm whether VAT is included. You can check firms through the Solicitors Regulation Authority or the Council for Licensed Conveyancers. Land Registry fees are published on GOV.UK.
Is stamp duty payable on a remortgage?
Normally no. A straightforward remortgage isn't a purchase. Stamp Duty Land Tax can apply to a transfer of equity if the person joining takes on a share of the mortgage above the SDLT threshold, or pays money for their share. Check GOV.UK or ask your conveyancer if ownership is changing at the same time.
Lender product fees: add to the loan or pay upfront?
Most lenders let you add the product fee to the mortgage. That avoids an upfront payment, but you then pay interest on the fee for as long as it sits in the balance.
| Example: £999 fee added at 4.5% over 25 years | Amount |
|---|---|
| Extra monthly payment | about £5.55 |
| Extra paid over a 2-year fix | about £133 (with about £954 still owed) |
| Total extra cost if kept for the full 25 years | about £1,666 |
Run your own numbers with the CalcMondo mortgage calculator. Enter the balance with and without the fee to see the difference.
How to compare a fee deal with a no-fee deal
A lower rate with a big fee can be cheaper or dearer than a higher rate with no fee. It depends mainly on your loan size. A simple method:
- Work out the monthly payment for each deal.
- Multiply by the number of months in the fixed period.
- Add all fees (product, valuation, legal, broker), and subtract any cashback.
- Compare the totals, plus the balance left at the end of the deal.
| Illustration: £200,000 balance, 25 years, 2-year fix | Deal A: 4.19% + £999 fee | Deal B: 4.49%, no fee |
|---|---|---|
| Monthly payment | about £1,077 | about £1,111 |
| 24 months of payments | about £25,842 | about £26,653 |
| Plus fees | £999 | £0 |
| Total cost over the fix | about £26,841 | about £26,653 |
In this illustration the no-fee deal is slightly cheaper over the two years, even though its rate is higher. Deal A would leave a slightly lower balance at the end, so the gap is narrower than it looks. On a larger balance the fee deal would usually win. Rates and figures are illustrative only and are not current market quotes.
Early repayment charges and exit fees
An ERC is charged if you repay or switch during a fixed or discounted period. It's often a sliding percentage of the balance, for example 5% in year one falling each year, though terms vary. On a £200,000 balance, a 3% ERC is £6,000, which can wipe out the saving from a lower rate. Your mortgage offer sets out the ERC schedule.
An exit fee (sometimes called a mortgage account fee or redemption administration fee) is a smaller admin charge, typically in the low hundreds of pounds, for closing the account. FCA rules require charges to be disclosed and fair. The exit fee in your original offer is the one that normally applies.
Most lenders let you secure a new deal up to six months before your current one ends. You can lock in a rate and then complete on the day your fixed period ends, avoiding both the ERC and the lender's standard variable rate (SVR).
What happens if you do nothing
At the end of a fixed or tracker deal, most mortgages revert to the lender's SVR, which is often significantly higher than new-deal rates. Even a few months on the SVR can cost more than a product fee. Put the end date of your deal in your calendar seven months ahead.
Affordability checks when remortgaging
A new lender will check your income, spending and credit file, much as for a purchase. If your income has fallen or your debts have grown, a product transfer may be easier. FCA rules allow a "modified affordability assessment" for some existing borrowers who aren't increasing their borrowing and are moving to a more affordable deal. Since the FCA's 2025 mortgage rule review, this can apply with new lenders too. Use our take-home pay calculator to check your net monthly income, and the loan calculator if you're considering consolidating other debts. Securing unsecured debt against your home puts the home at risk and can cost more in total over a long term.
Remortgaging to release equity
Borrowing more when you remortgage, for home improvements for example, means a larger loan and possibly a higher loan-to-value (LTV) band with a higher rate. A new valuation will set the LTV. If the property has risen in value, you might move into a cheaper LTV band even without borrowing more. Check the valuation basis before you apply.
A typical remortgage timeline
| When | What happens |
|---|---|
| 6–7 months before the deal ends | Check the end date, ERCs and current lender offers. Start comparing. |
| 3–6 months before | Apply. The lender values the property and underwrites the application. |
| 2–8 weeks after applying | Mortgage offer issued. The conveyancer is instructed if you're moving lender. |
| Completion day | The new lender pays off the old loan. Ideally this is the day after your fixed period ends. |
| After completion | The charge is registered at HM Land Registry and your new direct debit starts. |
Costs in special situations
- Leasehold flats: the conveyancer may need a management pack or notice of charge to the freeholder. Freeholders and managing agents often charge for these.
- Transfer of equity: adding or removing someone (for example after separation) is extra legal work, and can involve SDLT where money or debt changes hands.
- Help to Buy equity loan: remortgaging needs consent from the scheme administrator. There may be a fee, and redemption rules apply. See GOV.UK's Help to Buy guidance.
- Shared ownership: the housing association may need to approve the new lender, and only some lenders accept shared ownership.
- Self-employed borrowers: expect requests for SA302s or tax year overviews from HMRC, which can add time.
Remortgage checklist
- Find your current deal's end date, ERC schedule and exit fee.
- Get your current lender's product transfer options.
- Compare whole-of-market deals directly or through a broker. Ask how the broker is paid.
- Calculate total cost over the fixed period, including all fees.
- Check what "free legals" covers, or get an itemised solicitor quote.
- Apply three to six months before your deal ends.
- Keep payslips, bank statements and ID ready.
Official sources
- MoneyHelper: Remortgaging to get the best deal
- FCA: Consumer information
- GOV.UK: HM Land Registry fees
- GOV.UK: Stamp Duty Land Tax
- Solicitors Regulation Authority
Last reviewed: 14 October 2026. General information only, not financial advice. Your home may be repossessed if you do not keep up repayments on your mortgage.
