How much equity you can release
Your equity is your home's value minus everything secured against it. The new lender decides the value through its own valuation, then lends up to its maximum loan-to-value for your circumstances.
Values are not moving evenly, so check before you apply. In the 12 months to June 2026, the median home in Slough sold for £400,000, up 3.9%, while Milton Keynes fell 5.6% to £340,000. Flats have done worse than houses: the J Scott Flat Market Index 2026 found resale leasehold flats trailed resale houses by 15.3 percentage points in Slough and 12.0 in Luton between early 2022 and early 2026. If you own a flat, the valuation may come in below what you expect.
The legal steps, in order
- Instruction and ID checks. We open your file, confirm who you are and confirm we can act for your new lender.
- Title check. We download your title from HM Land Registry and look for anything that blocks a new mortgage: a restriction, an old charge never removed, or a lease that has run too short for the lender.
- The mortgage offer. We check every condition, especially any about what the extra money is for.
- Consents. Every owner signs the new mortgage deed, and other adults living there may need to sign an occupier's consent form.
- Completion. The new lender sends the loan to us, we repay your old mortgage in full and send the balance to your verified bank account the same day.
- Registration. We register the new lender's charge at HM Land Registry and confirm the old one has been removed.
Most of our remortgages complete in three to four weeks from instruction. Our remortgage solicitors page explains the core work in more detail.
Conditions lenders attach to the extra money
When you borrow more, the lender asks what the money is for, and the answer can become a condition of the offer. Common purposes and what they mean for the legal work:
| Purpose | What it means legally |
|---|---|
| Home improvements | Usually paid to you; keep the plan you gave the lender |
| Paying off debts | The lender may require us to repay named debts directly on completion. See debt consolidation remortgage |
| Helping a child buy a home | The lender must agree; your child's conveyancer will ask for a signed gifted deposit letter |
| Buying another property | The lender must agree; a buy to let purchase is usually a separate mortgage |
If your plans change after the offer, tell your broker or lender before completion. We cannot use the money for a purpose the lender has not agreed.
Who has to agree
Every owner on the title must sign the new mortgage deed. If someone aged 17 or over lives in the home but is not borrowing, most lenders ask them to sign an occupier's consent form, agreeing that the lender's rights come before theirs. Some lenders require that person to get independent legal advice first.
If you also want to add or remove an owner, that is a transfer of equity and is handled alongside the remortgage.
Releasing equity with your current lender
If your current lender will lend you more, it is usually a further advance. The lender's charge is already registered on your title, so there is often no solicitor, no title check and no redemption. Some lenders still ask for a solicitor, for example where the title has changed or another owner must sign. If you are offered a further advance, ask the lender whether any legal work is needed before you pay anyone.
Not the same as an equity release scheme
Remortgaging to release equity is an ordinary mortgage with monthly payments. Equity release schemes, such as lifetime mortgages for people aged 55 and over, are a different product with their own advice and legal requirements. If that is what you are considering, speak to a specialist adviser first.
