Property finance
Remortgaging: connect the new loan to the existing title.
Clarify ownership, lender requirements, redemption figures and timing before the current mortgage is replaced.
The remortgage route
A new mortgage still requires legal checks and a controlled completion.
A remortgage normally involves replacing existing secured lending with a new mortgage, often without a sale. The legal adviser may need to act for both owner and lender, check title and lender conditions, redeem existing charges and register the new security.
Changing ownership, adding funds, dealing with leasehold consent or resolving title issues can make the matter more than a straightforward lender switch. Describe the intended result, not only the new product.
Information to prepare
Ownership, lending and purpose shape the legal work.
Provide the property address, registered owners, existing lender and account details, new lender or broker information, approximate loan, and target date. Mention any proposed transfer of ownership, additional borrowing, leasehold status or restrictions already known.
The adviser may request identity, source-of-funds or source-of-wealth information even where no purchase is taking place. These checks form part of accepting and carrying out the work.
- Current owners and intended owners after completion
- Existing and proposed lenders
- Additional funds or contribution by another person
- Leasehold, shared ownership or title restrictions
Lender requirements
The lender's instructions are part of the transaction.
Where one adviser acts for owner and lender, the work includes meeting the lender's legal requirements as well as reporting to the owner. Not every firm can act for every lender, so panel status and any separate representation should be checked early.
The mortgage offer may contain conditions that must be satisfied before funds can be requested. The expiry date and required notice for drawing funds should be factored into planning.
Completion
Redemption and registration must align.
A completion statement should show incoming mortgage funds, legal costs, redemption of existing lending and any balance due to or from the owner. Redemption figures are date-specific and may change.
After completion, the old charge is removed and the new lender's charge is registered through the required land-registration process. Ask how completion and post-completion updates will be communicated.
Preparation sequence
Prepare a useful remortgage enquiry
- 01
Confirm the result
State whether ownership will stay the same and whether additional funds are being raised.
- 02
List both lenders
Provide current mortgage and proposed lender or broker details.
- 03
Flag title features
Mention leasehold status, restrictions, shared ownership or known title questions.
- 04
Explain the date
Give the target and why it matters, including any offer expiry or linked transaction.
Questions to clarify
Common questions before the first conversation.
These answers are general orientation for England and Wales, not advice on a particular matter.
Is a conveyancer needed for every remortgage?
The lender and transaction determine the legal requirements. A new charge and redemption commonly require legal work, although the arrangement may vary.
Can ownership be changed during a remortgage?
It may be possible, but a transfer of ownership raises additional legal, lender and potentially tax questions. It should be identified at the beginning.
Can a completion date be promised immediately?
No. The title, lender instructions, checks, redemption and availability of funds must be understood before a date can be responsibly agreed.
Prepare the first conversation
Turn the remortgage into a concise, useful brief.
Collect the people, dates, documents and practical outcome before contacting a regulated legal provider. Do not include confidential information in this prototype.