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If your mortgage deal is ending or you’re considering a remortgage for any reason, it’s important to understand the costs involved. These can vary depending on the lender you choose and your individual circumstances.
In this guide, we break down the main charges you might come across and when they typically apply. At Strive, we specialise in remortgages for residential homeowners, landlords, and clients raising additional borrowing — so if you want tailored advice on your options, it’s worth speaking to us directly.
What Affects the Cost of Remortgaging?
Remortgage costs aren’t the same for everyone. The total depends on how the switch is structured, who is involved, and which lender you use.
- Early repayment charges (ERCs): If you remortgage before your current deal ends, your existing lender may charge a penalty. This can be one of the largest costs and should always be checked first.
- Staying with your current lender or moving to a new lender: A product transfer with your existing lender is usually simpler and may involve fewer fees. Moving to a new lender can mean legal work and a valuation, although many lenders cover these costs.
- Whether the same borrowers remain on the mortgage: If someone is being added or removed (transfer of equity), legal work becomes more complex and additional solicitor fees usually apply.
- Using the lender’s free legal service or appointing your own solicitor: Many remortgage deals include free basic legals. Choosing your own solicitor can give you more control but will usually involve extra cost.
- Mortgage and advice-related fees: This includes lender product or arrangement fees, broker advice fees, and valuation costs. Some deals have no product fee, others may charge £999 or more. Many lenders offer free valuations, but not all. Broker fees vary depending on the service and complexity of the case.
What Are the Costs of Remortgaging to a New Lender?
When moving your mortgage to a new lender, there can be several costs involved. Not all of these apply in every case, and some may be covered as part of the deal you choose, but it’s important to understand where charges can arise.
- Mortgage exit / deeds release fees: Some lenders charge a small admin fee when your mortgage is redeemed.
- Arrangement / product fees: Many mortgage deals are tiered. Some come with higher fees and lower interest rates, while others have no fee but a higher rate. Fee-free products are available, but they aren’t always the cheapest overall when you look at the total cost over the deal period.
- Solicitors / conveyancers: Legal work is required when switching lenders. Many mainstream residential lenders offer free basic legal services as part of the deal. Some niche or buy-to-let lenders don’t. In some cases, lenders offer cashback instead (often £250–£500) so you can appoint your own solicitor. Using your own can give more control, which can be useful for urgent or more complex cases such as a transfer of equity, but typical costs are around £350–£700 and can rise with added complexity.
- Valuation fees: Many remortgage deals include a free lender valuation, but not all. Higher-value or unusual properties are more likely to incur a charge as well as some specialist Buy to Let Mortgage products.
- Broker fees: This depends on the broker and the complexity of your case. Some charge a fixed advice fee, others are paid solely by the lender, and some use a mix of both.
- Early repayment charges: If you leave your current deal before the fixed or incentive period ends, your existing lender may charge a penalty. This can be one of the largest costs and must be checked before proceeding.
What Are the Costs of Remortgaging With the Same Lender?
If you’re staying with your current lender and simply moving onto a new deal (a product transfer), there are usually very few costs and minimal admin.
- Legal fees: Not normally involved. Because the lender isn’t changing, no solicitor is required unless you are adding or removing someone from the mortgage.
- Exit fees: These typically don’t apply, as you are not repaying the mortgage — just switching products internally.
- Valuation fees: Usually not needed. Lenders often use their own internal valuation and only charge if a new assessment is specifically required.
- Arrangement / product fees: This is normally the only potential cost. Some deals have no fee, while others charge a product fee in exchange for a lower rate.
Because many new-lender remortgage deals also include free legal work or cashback, the cost difference between staying and switching is often small — provided early repayment charges don’t apply.
When Are Remortgage Costs Payable?
It’s important to understand not just what fees apply, but when you actually have to pay them.
Mortgage arrangement or product fees are often added to the mortgage and paid over the term, although you can usually choose to pay them upfront instead. Solicitor or legal fees are typically settled at completion. Many conveyancers work on a “no completion, no fee” basis, but it’s still important to check this in advance.
Early repayment charges and any exit fees from your current lender are paid when your old mortgage is redeemed, which happens on completion of the remortgage. Broker fees vary depending on who you use — some charge at application, others on completion — but many structure their fees so they are only payable once the mortgage successfully completes.
In most standard remortgage cases, the majority of costs are
Speak to a remortgage exeprt today, to lock you in with the best deal.
How Can Strive Help You Remortgage?
Remortgaging isn’t just about finding a new rate — it’s about getting the timing and process right. Knowing when to apply, which lenders suit your situation, and how the switch is handled behind the scenes makes a big difference to how smooth it is.
At Strive, we manage the whole process end-to-end. That includes selecting the right lender, advising on whether to use lender-provided legal services or trusted solicitors for more complex cases, and making sure everything lines up properly. We ensure your existing mortgage is redeemed correctly, balances tie up, and your new direct debit is set up without disruption.
These are routine steps for us, but they can be fiddly and stressful to manage alone — especially alongside work, family life, or a move. With our experience, you avoid delays, mistakes, and last-minute surprises, and the transition from your old deal to the new one is handled cleanly and efficiently.
Content updated by Jamie Elvin 07/02/2026
Frequently Asked Questions
statements, ID, and details of your current mortgage. The solicitor handles the legal side, including the new mortgage deed and paying off your old loan.
Sometimes. Many lenders offer free valuation and free basic legal work, and some deals have no product fee. But the cheapest upfront option isn’t always the best overall — a deal with a fee can still work out cheaper if the rate is lower.
Most people remortgage when their fixed deal ends — usually every 2, 3, or 5 years. After this, you move onto the lender’s standard variable rate, which is often higher.
It depends. You need to compare the penalty with the savings from the new deal. Sometimes waiting is better, sometimes switching early still saves money.
Yes — if you’re switching lenders, legal work is required. Your old mortgage must be repaid and the new lender registered against the property. Many remortgage deals include a free solicitor provided by the lender to handle this.
If you’re staying with the same lender (a product transfer), legal work is usually not needed — unless you are adding or removing someone from the mortgage, which then requires a solicitor for the transfer of equity.
Typically 4–8 weeks from application to completion. Staying with your current lender is often quicker. Cases involving adding or removing someone from the mortgage, leasehold properties, or complex legal work can take longer.
Yes — this is called a product transfer. It’s usually quicker, involves little paperwork, and normally no legal work unless you are changing the borrowers on the mortgage.
Many lenders allow you to apply and secure a new rate up to six months before your current deal expires, helping you avoid moving onto a higher variable rate.
