How long does remortgaging take? Conveyancing and Property
Remortgaging should take between four and eight weeks.
The first step is to ask your current lender for a closing balance. This tells you how much you need to pay off, which is the amount you will need to borrow from your new lender.
If you are moving to a new lender, you will need to instruct a reputable, independent solicitor to draw up the mortgage deed and transfer the title of the property. Don’t automatically choose your mortgage lender’s nominated legal representative as this person is acting for the lender, not you.
A valuation will be required to check that your property is worth the amount being loaned. Following this, you will receive your mortgage offer.