Remortgage guide

Understanding remortgage costs

NatWest mortgages are available to over 18s. Your home or property may be repossessed if you do not keep up repayments on your mortgage. The content on this page is guidance only and does not constitute advice.
Illustration of a pink house with question mark

How much does it cost to remortgage?

Considering remortgaging your home? The right remortgage deal could bring benefits such as lower monthly repayments. However, it’s important to understand the different costs and fees associated with remortgaging a property. That way, you can weigh everything up and make the right decision for you.

If you’re wondering how much it’ll cost for you to remortgage, here are some fees you should bear in mind.

Remortgage costs and fees

Information Message

Remortgage cost estimates sourced from Uswitch.com

Legal fees

You’ll need to employ a solicitor to complete all the legal paperwork involved with your remortgage.

This helps ensure that your mortgage is switched over properly from your old lender to your new lender.

Remortgage legal fees are typically around £300, but this can vary.

Information Message

Valuation fees

When you decide to remortgage, your new lender will need to carry out a mortgage valuation before any deal is agreed. This helps them determine the current market value of your property so they can understand the equity you hold and the interest rate you qualify for.

The cost of this can depend on the size of your property. Typically this ranges between £300 and £500, though some lenders don’t charge for this service.

Information Message

Admin fees

Also known as a ‘deeds release fee’. This covers the cost for your existing lender to send your solicitor the title deeds. Not everyone has to pay for this but, if you do, it’ll be interest-free.

Admin fees typically range from £50 to £300. You can typically choose to pay these fees either upfront or at the end of the mortgage term.

Information Message

Early repayment charges

If you’re currently in a fixed rate or tracker mortgage deal with your existing lender and decide to remortgage before the term ends, you may have to pay an early repayment charge (also known as an ERC). This fee typically ranges from 1% to 5% of your remaining mortgage balance.

So, it may be worth waiting until your current mortgage deal is finished. However, if you’re on your lender’s Standard Variable Rate you probably won’t have to face an Early Repayment Charge. 

Information Message

Broker fees

If you decide to use a mortgage broker, you may need to pay a fee. This can be a flat rate or a percentage of the value of the mortgage.

It typically ranges between £300 to £600. Some brokers get commission paid from the lender instead.

Information Message

Arrangement fees

Also known as product fees, these charges cover the lender’s management costs. The fee typically ranges between £1,000 and £2,000, although not all lenders impose an arrangement fee.

You can choose to pay this fee upfront or add it to your mortgage balance. However, if you opt to add the fee to your mortgage, be aware that you will also incur interest on it.

Information Message

Illustration of a pink house with pink tree

What does remortgaging involve?

The process of remortgaging involves applying for a new mortgage with a different lender. You stay in your home, but you’ll have a new mortgage to replace your existing deal. 

Homeowners choose to remortgage for many reasons, the most common being:

  • their current deal is coming to an end
  • to access better rates
  • the property’s value has increased, resulting in a lower loan-to-value band – and lower interest rates
  • to release equity
  • to avoid increasing interest rates.

Considering remortgaging to NatWest?

If you transfer your mortgage to us from another provider, we'll cover your valuation and legal expenses (some exclusions may apply).

Remortgage costs: FAQs