Is the remortgage process complicated?
- Christina Vassiliades
- Oct 8
- 4 min read
Last Updated: 08 October 2025
Yes, the remortgage process can feel complex, but it usually follows a clear sequence that often takes between 4 and 8 weeks. The process begins with assessing your current mortgage, gathering documents such as payslips and bank statements, and applying either with your existing lender or a new one. A property valuation is often carried out, followed by an affordability review. Once approved, you receive a formal mortgage offer.
After the offer, legal work is completed, typically by a solicitor or conveyancer, to transfer the mortgage from your current lender to the new one. On completion day, your old mortgage is paid off, and you begin repayments under the new terms.
Remortgaging may reduce monthly costs, release equity, or secure a more suitable product. However, hidden costs such as arrangement fees, valuation fees, or early repayment charges must be considered. Brokers, like Manor Mortgages, often help simplify this journey and highlight which lenders are most suitable for your circumstances.
1. What Does Remortgaging Mean?
Remortgaging is when you replace your existing mortgage with a new one, either with your current lender or a different one. Most people remortgage to secure better rates, reduce payments, or release equity.
2. Why Do People Remortgage?
Common reasons include:
To avoid moving onto a lender’s Standard Variable Rate (SVR).
To reduce monthly repayments.
To release equity for renovations or debt consolidation.
To change mortgage type, such as switching from interest-only to repayment.
3. How Long Does the Remortgage Process Take?
Typically 4-8 weeks, depending on lender processing times, valuations, and legal work. Delays may occur if documentation is incomplete or if legal complexities arise.
4. Step-by-Step: The Remortgage Journey
Review your current mortgage: Check the balance, term, and any early repayment charges.
Research options: Compare deals or work with a broker to access intermediary-only lenders.
Application: Submit documents and affordability information.
Valuation: Lender may arrange a property valuation.
Underwriting: Income, credit history, and commitments reviewed.
Mortgage offer: Issued once approved.
Legal work: Solicitor completes transfer of mortgage.
Completion: Old mortgage is paid off, and new mortgage begins.
5. What Documents Do You Need to Remortgage?
Recent payslips or self-employed accounts.
Bank statements (usually 3 months).
Proof of ID and address.
Existing mortgage statement.
6. How Do Lenders Assess Your Application?
Lenders review:
Affordability: Income, expenses, dependants.
Credit history: Missed payments, defaults, CCJs.
Property value: Updated valuation.
Loan-to-value (LTV): Higher equity often means better deals.
7. What Are the Hidden Costs of Remortgaging?
Arrangement fees.
Valuation fees (sometimes free).
Legal fees.
Early repayment charges.
8. Specialist vs Mainstream Lender Criteria
Mainstream lenders: Prefer straightforward cases, low LTV, strong credit.
Specialist lenders: May accept complex income or credit history.
9. Policy Exceptions: How Brokers Add Value
Brokers can often secure exceptions. For example, a client with irregular self-employed income but a long trading history may be accepted if strong savings or equity exist. Presenting these strengths correctly can be critical.
10. Remortgage Pros and Cons in 2025
Pros
Lower monthly payments.
Access to better rates.
Opportunity to release equity.
Cons
Potential fees.
May restart mortgage term.
Valuation or affordability issues may arise.
11. Case Study: Remortgaging to Save on Monthly Costs
John and Sarah had a £200,000 mortgage on an SVR at 6.5%. By remortgaging, they secured 5.2%, reducing payments by £180 per month. The process took 6 weeks, and legal costs were included.
12. Expert Tips and Common Mistakes to Avoid
Start early, ideally 6 months before your current deal ends.
Check for hidden fees.
Do not assume your current lender is cheapest.
Keep documents updated and ready.
13. FAQs
Is remortgaging always cheaper?
Not always. Savings depend on fees, equity, and rates.
Can I remortgage if I have bad credit?
Yes, though options may be limited. Specialist lenders may help.
Do I need a solicitor to remortgage?
Yes, legal transfer is required, though many lenders offer free legals.
How often can I remortgage?
There is no limit, but costs and charges must be considered.
What happens if my house value has dropped?
LTV may increase, limiting options. Some lenders still consider applications with strong affordability.
14. Checklist for Next Steps
Review your current mortgage.
Check for early repayment charges.
Gather income and bank documents.
Compare lenders or use a broker.
Plan ahead at least 3–6 months before your deal ends.
Conclusion
Remortgaging can save money, reduce payments, or release equity, but the process involves multiple steps, checks, and potential fees. Planning early and preparing documents can make the process smoother.
At Manor Mortgages, we are expert mortgage advisers with years of experience guiding clients through the remortgage process.
Written by Ben Stephenson, CeMAP-qualified Mortgage Broker, and reviewed by Mortgage Experts.
Manor Mortgages is FCA authorised (496907), established for nearly 30 years, and highly rated (4.9 on Google). We have helped thousands secure the right mortgage. Based in Bristol, we assist clients nationwide.