The differences at a glance
| Product transfer | Remortgage | |
|---|---|---|
| Lender | Stays the same | Changes |
| Solicitor needed | Usually not | Yes |
| New valuation | Usually not | Yes, by the new lender |
| Borrow more | Possible as a further advance, if the lender agrees | Yes, subject to valuation and affordability |
| Change who owns the home | Needs a separate transfer of equity | Can be done alongside |
| Legal cost | Usually none | Fixed legal fee plus disbursements, unless the deal includes free legals |
| Time | Often days once you pick a product | Valuation and offer, then the legal work |
When a product transfer makes sense
A product transfer is simplest when your current lender's rate is competitive, you are not borrowing more, and nobody is joining or leaving the mortgage. There is no title check, no redemption and no new charge to register, so there is nothing for a solicitor to do. Many lenders let you choose a new product a few months before your current deal ends.
Skipping the valuation can matter. The J Scott Flat Market Index 2026 found that resale leasehold flats trailed resale houses by 15.3 percentage points in Slough and 10.4 in E14 between early 2022 and early 2026. If your flat has not kept pace, a new lender's valuation could push you into a higher loan-to-value band, while a product transfer usually avoids that test.
When a remortgage is worth the legal work
Moving lender is worth it when the saving outweighs the cost, or when you need something your current lender will not do:
- a better rate or lower fees elsewhere, after counting legal costs or any free legals or cashback
- borrowing more than your lender will offer, for example to release equity or consolidate debts
- clearing a second charge loan and replacing everything with one mortgage
- a lender that suits your situation better, such as a buy to let specialist
A mortgage broker regulated by the Financial Conduct Authority can compare the deals. We handle the legal side. Our remortgage solicitors page explains the work, and our fixed legal fee starts from £250 plus VAT, depending on the property value.
When you need a solicitor even with the same lender
Staying with your lender does not always mean no legal work:
- Adding or removing an owner. Taking an ex-partner off the mortgage or adding a new partner is a transfer of equity. The title has to change at HM Land Registry, and the lender has to consent.
- A further advance with conditions. Some lenders want a solicitor involved if extra money must pay off named debts or the title needs updating.
- Problems on the title. An old charge that was never removed or a restriction may need clearing before the lender will agree to changes.
Timing
If you remortgage, start early. Allow time for the new lender's valuation and offer, then the legal work, which takes three to four weeks for most of our remortgage clients. Missing your deal's end date can leave you on your current lender's standard variable rate for a month or more. Our guide to remortgaging when your fixed rate ends has a step-by-step timeline.
