Transfer of Equity
Adding or removing someone from the title, often alongside a remortgage.
Conveyancing Services
Remortgage Conveyancing: What Is Involved
Remortgaging to a new lender means legal work: discharging the old loan and registering the new one. The steps are broadly similar across the UK, but the Scottish instruments and registry differ.
England & Wales
The Process Under the Law of England & Wales
A remortgage replaces your existing mortgage with a new one, either with a new lender or on a new product with your current lender. Where a new lender is involved, legal work is required: the solicitor checks your title, obtains a redemption figure for the old loan, arranges the new advance, repays the existing mortgage and registers the new lender's charge at HM Land Registry.
Many lenders offer a free legal service for standard remortgages, using a firm from their panel. This is convenient and keeps costs down, but the panel firm acts primarily for the lender and handles high volumes, so service can feel impersonal. You can usually instruct your own solicitor instead, sometimes for a cash-back contribution.
When it is more involved
Straightforward remortgages are quick. It becomes more complex if you are also changing who is on the title (a transfer of equity), if the property is leasehold, or if there are second charges or restrictions to deal with.
Key Steps in England & Wales
- New mortgage offer received
- Solicitor checks title
- Redemption figure obtained for existing loan
- New advance drawn down
- Existing mortgage repaid
- New lender's charge registered at HM Land Registry
Scotland
How It Works Under Scots Law
The principle is the same in Scotland, but the machinery is Scottish. Your solicitor examines the title, obtains the redemption figure for your existing loan, draws down the new advance, repays the old lender and registers the new standard security (the Scottish equivalent of a mortgage charge) with Registers of Scotland.
As in England, many lenders provide a panel firm for a standard Scottish remortgage. You can generally choose your own Law Society of Scotland-regulated solicitor if you prefer a named contact and local knowledge.
When it is more involved
The added complexity points are similar: adding or removing an owner, dealing with a second security, or resolving a title condition. A Scottish solicitor will also confirm there are no outstanding notices affecting the property before the new security is registered.
Why Scotland Is Different
Scotland has its own legal system. The binding contract is formed by concluded missives, not exchange of contracts; property tax is LBTT (with the Additional Dwelling Supplement on second homes), collected by Revenue Scotland; title is registered with Registers of Scotland; and sellers must provide a Home Report before marketing. There is no CQS scheme in Scotland: firms are regulated by the Law Society of Scotland.
Common Questions
Remortgage Conveyancing: FAQs
Do I need a solicitor to remortgage?
Usually yes, if you are moving to a new lender, because the old charge must be discharged and the new one registered. Many lenders provide a free legal service using a panel firm for standard cases. If you are simply switching to a new product with your existing lender (a product transfer), no legal work is normally needed.
What is registered against my property when I remortgage?
In England and Wales, the new lender's charge is registered at HM Land Registry and the old charge is removed. In Scotland, a new standard security is registered with Registers of Scotland and the previous one discharged. The term 'mortgage' is used loosely in both, but the Scottish legal instrument is a standard security.
Can I use my own solicitor instead of the lender's panel firm?
In most cases yes, in both jurisdictions. Some borrowers prefer their own solicitor for a named point of contact and local knowledge, particularly where the remortgage also involves a change of ownership. The lender may offer a cash-back contribution toward your costs instead of the free panel service.
How long does a remortgage take?
A standard remortgage typically takes four to eight weeks from application to completion, depending on the lender's processing times and how quickly the redemption figure and title checks come back. Adding a transfer of equity, dealing with leasehold, or resolving title issues extends this.
Related Reading
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Who can handle your remortgage, and the differences that matter.