Remortgaging your home. How can WSP Solicitors help unlock the potential?

• Posted onMarch 2, 2026

How Can WSP Solicitors Help With Remortgaging?

Remortgaging allows you to switch your mortgage to a new deal without moving home. If your fixed‑rate mortgage is ending in the next few months, remortgaging may be worth considering, particularly as rates had dropped to historic lows at the time of publication. WSP Solicitors can support you through the legal process remotely, with no face‑to‑face contact required. (Originally published May 2020, updated March 2026).

Why People Consider Remortgaging Their Home

There are several reasons why homeowners may choose not to stay with their existing mortgage lender.

Common benefits of remortgaging include:

• Securing a better mortgage rate
• Reducing monthly outgoings
• Releasing money for other projects

What Is Remortgaging?

Remortgaging means switching your mortgage from your current lender to a new one, without selling or moving house.

It can also involve reviewing your existing mortgage arrangements if your current deal is coming to an end.

How Do You Go About Remortgaging?

Banks and building societies sometimes offer fee‑free remortgage options. However, in many cases, you can expect to pay:

• A valuation survey fee
• Conveyancing costs

An alternative option may be a product transfer.

What Is a Product Transfer?

A product transfer is when your existing lender moves you onto a new mortgage deal.

This can help you avoid moving onto your lender’s standard variable rate, which is often higher.

Should You Use a Mortgage Broker?

It is always advisable to use an independent mortgage broker.

A broker can:

• Search the whole market for the best available rate
• Assist you throughout the remortgaging process

How Can WSP Solicitors Help With Your Remortgage?

WSP Solicitors are fully set up to work remotely and can provide the same level of service you are used to, without any face‑to‑face contact.

The remortgaging process typically begins with requesting a redemption statement from your current lender. This document confirms:

• How much is outstanding on your mortgage
• Any repayment fees that may apply

What Legal Work Will WSP Carry Out?

Once the redemption statement is received, WSP Solicitors will:

1. Review the terms of your new mortgage
2. Carry out the required conveyancing checks
3. Transfer funds from your new lender to your existing lender
4. Notify the Land Registry of the change of lender

Things to Consider Before Remortgaging

Before proceeding, it is important to review your personal and financial circumstances carefully.

Key factors to consider include:

• Changes in circumstances, such as stopping work or becoming self‑employed
• Credit history, including missed payments to utility or mobile phone providers
• Early repayment charges, which may make remortgaging before the incentive period ends uneconomical
• Equity levels, particularly if you need to borrow more than 90% of the property’s value
• Property value, especially if your home’s value has dropped

Each of these factors can affect eligibility and access to better mortgage rates.

Getting Legal Support With Remortgaging

Remortgaging may feel more straightforward than buying or selling, but it still involves important legal steps.

WSP Solicitors’ Residential Property Conveyancing team can guide you through the process, ensuring your remortgage is handled efficiently and correctly.

For expert property law and conveyancing advice, you can contact WSP Solicitors’ local offices, servicing the whole of Gloucestershire, including; Gloucester, Stroud, Cheltenham, Tewkesbury or the Forest of Dean, or use the enquiry form on this page to request a callback.