Do I need to pay a conveyancer to remortgage?

Yes, you need a conveyancer when switching lenders, but not for product transfers with your current lender or if your new lender covers the costs. The conveyancer handles the legal transfer of your mortgage between lenders, conducts searches, and registers the new mortgage with the Land Registry.

How long does it take to remortgage?

Product transfers: 2-4 weeks since you're staying with your current lender and minimal paperwork is required. Switching lenders: 4-8 weeks typically, though it can take longer if there are complications. The process involves application, valuation, legal work, and completion.

What are remortgage costs?

Remortgage costs are the fees you pay to switch your mortgage to a new deal, either with your current lender or a different one. These cover the administrative, legal, and setup work required to arrange your new mortgage.

How much will it cost to remortgage?

Remortgaging costs can vary depending on your circumstances. We’ll break it down here.

Last updated 27 Nov 2025

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Key takeaways

Remortgaging costs £0-£2,000 with your current lender vs £1,000-£3,000+ when switching lenders

Early repayment charges (1-5% of mortgage balance) are the biggest potential cost when breaking fixed deals early

Main setup costs include conveyancing (£300-£800), arrangement fees (£1,000-£2,000), and valuation (£0-£500)

Compare total cost over your intended term, not just interest rates - lower rates don't always mean cheaper deals

Product transfers take 2-4 weeks while switching lenders typically takes 4-8 weeks to complete

How much does it cost to remortgage?

Remortgaging could cost you £0 or thousands upfront depending on your situation.

Product transfers with your current lender cost between £0-£2,000, while switching lenders typically costs £1,000-£3,000+.

Quick remortgage cost breakdown:

Stay with current lender: £0-£2,000 (mainly arrangement fees)
Switch lenders: £1,000-£3,000+ (includes setup and exit costs)
Average remortgaging cost: £1,500-£2,500 for a typical lender switch

Key cost to consider: Conveyancing fees (£300-£800), arrangement fees (£0-£2,000), valuation fees (£0-£500), and exit fees (£0-£300).

Costs for leaving your current mortgage

If you’re switching lenders, you could come across some exit fees, here’s a breakdown of what you might typically see:

Early repayment charges (% of your mortgage)

Early repayment charges (ERCs) are fees your current lender charges for breaking your mortgage deal before it ends. These typically range from 1-5% of your outstanding mortgage balance and decrease over time. For example, a £200,000 mortgage might have a 3% ERC in year one (£6,000), dropping to 2% in year two (£4,000), and so on.

1. When they apply

ERCs usually apply during fixed-rate, tracker, or discounted periods, commonly for 2 to 5 years from your mortgage start date.

2. How to calculate if it’s worth paying

Compare your total switching costs against potential savings. Calculate your ERC plus all other fees (conveyancing, arrangement, valuation fees) for the complete switching cost. For example, if your total costs are £4,500 but you save £300 monthly, you'll break even in 15 months. Use this formula to work out how long it would take you to breakeven: Total remortgage costs ÷ monthly savings = break-even months.

Learn more:

When should I remortgage?

3. Can I avoid paying early repayment charges?

Start shopping for new deals 6 months before your current one expires so you’re ready to switch when you deal ends to avoid ERCs entirely. Other than this there is no way to avoid them completely unless your lender is prepared to waive them.

4. Is it ever worth paying my ERC?

There are two situations where you could find it worth paying your ERC:

If rates drop significantly and you could get a much lower monthly payment that you currently have, calculate whether future savings justify current ERC costs.
You think that interest rates could increase dramatically by the time your current deal runs out.

If you are going to pay your ERC, speak to professionals and ensure it’s the right decision for you. Without a solid understanding you could end up losing money.

Deeds release fee (£0 - £300)

Also known as an ‘admin charge’, this is paid to your existing lender so they can forward the property’s title deeds to your solicitor. This fee typically ranges from £0-£300. Sometimes, this fee may already be included if you paid a mortgage account fee when you first took out your loan, so check your original mortgage documentation.

Unlike early repayment charges, deeds release fees apply regardless of when you leave - whether you're switching at the end of your deal or breaking early. While these fees aren’t typically negotiable, it's always worth asking your lender if they can waive or reduce them, especially if you're a long-standing customer.