How Much Does it Cost to Remortgage in Solicitors’ Fees?
What does it cost to remortgage in terms of legal fees? Conveyancing includes registering the change in mortgage deeds with the Land Registry, although many lenders will include the costs of legal services within a remortgage offer.
However, how much does it cost to remortgage changes slightly if you're remortgaging with the same provider? A product transfer does not require any conveyancing work, so if you are concerned that you can’t afford to remortgage, a product transfer may be a more affordable option.
How much does it cost to remortgage early with the same lender? Potentially, although not often – most lenders will prefer to keep you within the terms of a fixed-term mortgage before they offer a remortgage. Still, if you're looking into can I remortgage for a longer term, a broker may be able to negotiate this clause on your behalf.
How Much Does it Cost to Remortgage on Average?
We've listed all the major remortgaging costs below, although these won't always apply in every scenario. If you're in any doubt about how much does it cost to remortgage or is now a good time to remortgage, please get in touch with Revolution Finance Brokers at your convenience.
How Much Does it Cost to Remortgage in Early Repayment Charges?
Early settlement fees are levied if you are locked into a fixed-term deal and decide to remortgage regardless – it is normally advisable to wait until you reach the term end. What does it cost to remortgage if you need to pay an early exit fee? Often from 1% to 5% of the balance remaining on your mortgage.
How Much Does it Cost to Remortgage in Exit Fees?
Exit fees differ from early exit charges, an administrative cost some lenders include in your mortgage contract. How much does it cost to remortgage if your agreement includes an exit fee? It's usually from £50 to £65 depending on the lender.
How Much Does it Cost to Remortgage in Deed Release Fees?
Deed release fees cover the admin tasks in sending the title deeds to the new lender – some remortgage providers charge an upfront fee, while others will roll it up into the first remortgage repayments. Can you remortgage early with the same lender and avoid a deed release fee? Yes, the cost is normally £50 to £300, but you won’t always need to pay this, particularly if you’re remortgaging with the same provider.
How Much Does it Cost to Remortgage in Product Fees?
Product fees are also known as application or arrangement fees but can be from £1,000 up to around £2,000. It is essential you understand what the product fees are because one remortgage that looks attractive due to a low-interest rate may actually be more expensive due to extra charges such as a product fee. If you can’t afford to remortgage, how does this work? You can often roll the cost up into your remortgage payments.
How Much Does it Cost to Remortgage in Booking Fees?
Booking fees aren’t always payable, but some lenders add an extra one-off fee, normally associated with the most competitive remortgage offers. This cost is non-refundable and payable on application and is around £100 to £200.
How Much Does it Cost to Remortgage in Valuation Charges?
Most lenders will need an up-to-date valuation before they can offer a remortgage, so how much does it cost to remortgage may depend on the complexity of the valuation and the size of your property. Valuations cost around £400, although some remortgage providers will cover valuations within their offer.
How Much Does it Cost to Remortgage in Conveyancing Fees?
How much does it cost to remortgage through a solicitor? The charges for a remortgage depend on the volume of conveyancing work required, but the average is about £300. Again, many lenders will include legal costs within a remortgage offer.
How Much Does it Cost to Remortgage in Broker Fees?
Broker’s fees are usually around 1% of the mortgage value and from £300 to £600 on average. Understanding what is remortgaging your house, and selecting the optimal lender and remortgage product will usually save you considerably more than the broker's fee!
Help With Calculating How Much Does it Cost to Remortgage
Every remortgage application is different, and if you'd like independent, impartial advice about what does it cost to remortgage or what you should do if you feel you can’t afford to remortgage, please get in touch at any time.
2023-05-09 
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