How much does it cost to remortgage? A complete guide for UK homeowners

Introduction

Remortgaging is the process of replacing your current mortgage deal with a new one. That might mean switching to a different lender, moving to a new product with your existing lender, or changing the structure of your mortgage to better suit your plans.

The question most homeowners ask is simple: how much does it cost to remortgage?

The answer depends on the details of your current mortgage (especially whether you’re leaving a fixed or discounted deal early) and the fees charged by lenders, solicitors and—where applicable—your mortgage adviser.

This guide breaks down the typical remortgage costs in the UK so you can budget accurately and compare options.

What counts as a remortgage cost?

When people talk about “the cost of remortgaging”, they’re usually referring to the combination of:

• Lender-related fees (for example, valuation and any remortgage administration charges)
• Legal and conveyancing costs (solicitor work to update the mortgage)
• Charges from your existing mortgage (most importantly early repayment charges if you’re leaving your deal early)
• Exit-related fees from your current lender (such as deeds release or an exit fee, depending on the lender)
• Broker fees (if you choose to use an adviser who charges for their service)

Your total cost can be low or relatively high depending on which of the above apply.

1) Valuation fees

A valuation is how a lender confirms the property’s value for the new mortgage.

Typical impact on cost:

• Some remortgage products include a free valuation.
• Others may charge a valuation fee, which can vary by lender and property type.

Why it matters: even when the valuation fee is modest, it’s still part of the overall remortgage budget—especially if you’re comparing deals.

2) Legal fees (conveyancing)

Even though you’re not buying a new property, remortgaging still requires legal work. Your solicitor typically handles tasks such as:

• verifying title and mortgage documentation
• arranging the mortgage completion process
• dealing with any changes to the mortgage parties or ownership details

Typical impact on cost:

• Legal fees vary depending on the complexity of your case.
• If you’re only switching the mortgage deal with no changes to ownership, costs are often lower than cases involving additional changes.
• If you’re adding or removing someone from the mortgage or deeds, expect additional legal work and therefore additional cost.

3) Early repayment charges (ERCs)

ERCs are often the biggest factor in how much it costs to remortgage.

If you remortgage while you’re still within a fixed-rate or discounted period, your current lender may charge an early repayment charge for leaving the deal early.

How ERCs are usually calculated:

• commonly based on a percentage of the outstanding mortgage balance
• sometimes with a decreasing scale over time (so ERCs may reduce as you approach the end of the deal)

Why ERCs can change the decision: A lower interest rate on a new deal may be offset by ERCs, meaning the “cheapest” option isn’t always the one with the lowest headline rate.

4) Exit fees and deeds release fees

When you move away from your current lender, there may be lender charges related to closing the mortgage or releasing documentation.

Typical impact on cost:

• Some lenders charge an exit fee.
• Others charge a deeds release fee (or similar administration charge).
• The amounts vary by lender and mortgage product.

These fees are often smaller than ERCs, but they’re still worth including in your total estimate.

5) Broker fees (if you use an adviser)

Many homeowners use a mortgage broker to compare options across the market and help them choose a deal that fits their circumstances.

Broker fee structures vary, but common approaches include:

• an upfront fee
• a fee payable only if the mortgage completes
• a combination of adviser fees and lender product charges (depending on the arrangement)

Why this matters for cost planning: Broker fees can affect your remortgage budget, but they may also help you avoid costly mistakes—such as choosing a deal that looks attractive but doesn’t suit your timing (for example, when ERCs apply) or your affordability needs.

6) Other potential costs to consider

Depending on your situation, there may be additional costs, such as:

• changes to mortgage or deeds (adding/removing borrowers)
• stamp duty land tax (SDLT) (usually only relevant if you’re buying or transferring property—typically not part of a straightforward remortgage)
• arrangement fees charged by the new lender (some deals include them, others don’t)
• ongoing product charges (for example, certain lender fees that apply to the mortgage product)

A complete cost picture comes from looking at both your current mortgage terms and the specific new deal you’re considering.

How much does it cost to remortgage in the UK?

There isn’t one fixed “average” figure that fits everyone, because the cost depends on whether ERCs apply and what’s included in the new deal.

However, for many homeowners, the non-ERC costs (valuation, legal fees, and lender exit/deeds release charges) can often be manageable—while ERCs can push the total significantly higher if you remortgage early.

A practical way to estimate your total

To build a realistic remortgage cost estimate, add up:

1. Valuation fees (if not included)
2. Legal fees
3. Exit/deeds release fees from your current lender
4. Any new lender product fees (such as arrangement fees, if applicable)
5. ERCs, if you’re leaving your current deal early
6. Broker fees, if relevant

If you’re unsure which elements apply, your lender’s mortgage offer documents and your solicitor’s quote will usually clarify the fees you’ll pay.

How to minimise remortgaging costs

Reducing remortgage costs usually comes down to timing and choosing the right deal structure.

1) Remortgage at the end of your deal where possible

If you can remortgage when your fixed or discounted period ends, you may avoid ERCs.

2) Compare deals on total cost, not just the rate

A deal with a slightly higher rate might still be cheaper overall if it includes free valuation/legal work or avoids certain fees.

3) Check what’s included in the remortgage package

Some lenders offer remortgage incentives that can reduce upfront costs.

4) Keep changes to a minimum if you’re trying to control legal fees

If you’re not required to change borrowers or deeds, keeping the remortgage straightforward can help reduce solicitor workload.

Is remortgaging worth the cost?

Remortgaging can be worth it when the benefits outweigh the upfront costs.

Common reasons homeowners decide to remortgage include:

• securing a more competitive interest rate
• moving from a higher-cost product to a more affordable one
• improving predictability of monthly payments
• restructuring the mortgage to better match financial plans
• consolidating certain debts into one mortgage payment (where appropriate)

A useful way to judge value is to compare:

• the total upfront remortgage costs against
• the expected savings or improved affordability over time

Because ERCs and fees can vary widely, the “right” decision is usually personal to your mortgage term, timing and the new deal you’re offered.

Frequently asked questions about remortgage costs

Does it always cost money to remortgage?

Not always. Some lenders include free valuation and/or free legal work on certain remortgage products. However, costs can still arise from lender exit/deeds release charges, potential ERCs, and any broker fees depending on the arrangement.

When is the cheapest time to remortgage?

Often, the cheapest time is when you’re close to the end of your current fixed or discounted term, because this can reduce or avoid ERCs. Many homeowners start planning several months before the end of their deal to give enough time to compare options.

Can my remortgage cost change if my property value has changed?

Yes. Your property value affects your loan-to-value (LTV), which can influence the range of deals available and the fees or product structure you’re offered. A valuation is typically part of the remortgage process.

Are broker fees worth paying?

For many homeowners, broker fees can be justified by the value of comparing the market and matching a deal to their circumstances—particularly when timing and ERCs are involved. Whether it’s worth it depends on your situation and the fee structure.

Can remortgaging reduce my monthly payments?

It can, especially if you move from a higher rate (or a higher-cost product) to a more competitive deal. It may also be possible to restructure payments, depending on your lender and mortgage product.

Summary

The cost to remortgage in the UK is made up of several components: valuation, legal fees, possible exit/deeds release charges, and—most importantly—early repayment charges if you leave your current deal early.

To understand your likely total cost, estimate each element and compare deals on overall cost and expected savings, rather than focusing on the interest rate alone.