A formal remortgage offer means the new lender has approved the mortgage subject to the conditions in that offer. It does not mean the old mortgage has already been replaced.
The legal team still has to prepare the new charge, obtain an up-to-date redemption figure, satisfy the new lender's conveyancing requirements, request the mortgage advance and complete the switch.
Quick Answer (Read This First)
There is no single official number of days from remortgage offer to completion.
A straightforward remortgage can move quickly after offer, but timing depends on whether the conveyancer has already completed the legal work and whether there are title issues, additional charges, leasehold requirements or lender conditions still outstanding.
The practical sequence is:
- formal remortgage offer;
- legal/title checks completed;
- mortgage deed and any outstanding documents signed;
- final redemption figure requested from the existing lender;
- conveyancer sends the new lender its Certificate of Title;
- new lender releases the mortgage funds;
- conveyancer repays the old mortgage and completes;
- the old charge is discharged and the new charge is registered.
Why Remortgaging Is Different From Buying a Home
A standard remortgage usually has no seller and no property chain.
That removes stages such as:
- agreeing a completion date with a seller;
- exchange of contracts for a purchase; and
- waiting for money to move through a chain.
But there is still legal work because the new lender needs valid security over the property and the old lender's charge must be dealt with.
That is why "the mortgage has been offered" and "the remortgage has completed" are two separate events.
Step 1: The New Lender Issues the Formal Offer
The offer confirms the mortgage the lender is prepared to provide, subject to its terms and conditions.
Check:
- loan amount;
- repayment method;
- term;
- interest rate;
- product end date;
- fees;
- special conditions; and
- offer expiry.
If completion is likely to drift, see how mortgage offer expiry and extensions work.
Do not assume the conveyancer has automatically satisfied every condition just because the offer exists.
Step 2: The Conveyancer Finishes the Title and Lender Checks
The new lender's conveyancer must be satisfied that its mortgage will be properly secured.
Depending on the case, that can involve checking:
- ownership and title;
- existing charges;
- restrictions on the title;
- lease terms;
- management-company requirements;
- bankruptcy or insolvency searches;
- identity;
- source of any extra money being introduced; and
- lender-specific legal conditions.
A simple freehold property with one existing mortgage is usually more straightforward than a leasehold property with restrictions or several secured charges.
Step 3: You Sign the Mortgage Deed
The new mortgage deed creates the lender's legal charge over the property.
If the legal firm sends documents for signature, deal with them promptly and follow the witnessing instructions exactly.
A missing signature or incorrectly witnessed deed can stop completion even though the underwriting is finished.
Step 4: The Old Lender Provides a Redemption Statement
The conveyancer needs to know exactly how much money is required to repay the existing mortgage on the intended completion date.
A redemption statement can include:
- outstanding capital;
- accrued interest;
- early repayment charges;
- exit or administration fees; and
- any other amount needed to clear the account.
Because interest can accrue daily, the figure is date-sensitive.
If completion changes, the conveyancer may need an updated figure.
Step 5: The Conveyancer Requests the New Mortgage Funds
This is the drawdown stage.
Under the UK Finance Mortgage Lenders' Handbook for England and Wales, submitting the Certificate of Title is treated as confirmation that the borrower is proceeding with the offer and as a request for the lender to release the mortgage advance.
The amount of notice required is lender-specific.
For example, current lender instructions in the Handbook can require several working days' notice, and different lenders publish different minimum periods.
That is why there is no reliable rule that "mortgage funds always arrive 24 hours after request".
IMPORTANT
The completion date should allow for the new lender's actual fund-release notice period. An urgent late request can delay completion.
How Long Does Mortgage Funds Drawdown Take?
The legal answer is: whatever notice period your lender requires, plus any time needed to resolve outstanding conditions.
The UK Finance Handbook tells conveyancers to check each lender's Part 2 instructions for the minimum number of days' notice.
Current examples range across several working days. That variation is precisely why a consumer-facing guide should not promise one universal timeframe.
Your conveyancer should request the money early enough for the agreed completion date and tell the lender immediately if completion is delayed after funds have been requested.
For a purchase as well as a remortgage, the offer-to-completion timeline explains the broader process.
Step 6: Completion Day
On completion, the new lender sends the mortgage advance to the conveyancer.
The conveyancer then uses the money to:
- repay the old lender;
- deal with any other agreed secured debts;
- collect or return any balance due from you; and
- account for legal fees and disbursements as appropriate.
Once the existing mortgage is repaid correctly, the old lender can discharge its legal charge.
If you are borrowing more than the existing mortgage balance, the conveyancer will send the surplus according to the transaction instructions after completing the required payments and checks.
Step 7: The Old Mortgage Charge Is Discharged
In England and Wales, HM Land Registry guidance explains that existing registered mortgage charges can be discharged electronically by lenders using an e-DS1 or through the applicable discharge process.
The old lender must receive the correct redemption payment first.
The conveyancer then deals with registration of the new lender's charge.
Land Registry registration does not necessarily have to be finished on the same day that the financial remortgage completes.
Step 8: The New Charge Is Registered
Post-completion, the conveyancer submits the relevant registration application.
HM Land Registry says many automated updates to existing registers, including electronic discharges of mortgages, can be completed immediately, while other registration work can take longer.
A registration still being processed after the money has switched does not automatically mean the remortgage failed to complete.
Your legal team remains responsible for dealing with the post-completion registration work.
What Commonly Delays Completion After Offer?
1. A condition on the mortgage offer
Examples include updated evidence, repayment of a particular debt or clarification of ownership.
2. A title restriction
A restriction may require consent or a certificate before a new charge can be registered.
3. Leasehold administration
A lease, management company or freeholder can create additional notice or consent steps.
4. A second charge
If another secured lender is staying in place, postponement or consent arrangements may be needed.
5. The redemption figure changes
An ERC, arrears or other unexpected amount can mean the new mortgage no longer produces the expected surplus.
6. Your new lender needs more notice for funds
The conveyancer cannot invent a shorter fund-release window.
7. Your offer is approaching expiry
Updated underwriting or an extension may be needed before the lender will release money.
Product Transfer vs Remortgage Completion
A product transfer with your existing lender is different.
If you are simply switching to another deal with the same lender and not changing the legal mortgage or ownership, there may be no external conveyancing process and no old charge to redeem.
That can make a product transfer operationally much simpler than moving to a new lender.
Do not use a product-transfer timeline to estimate a full remortgage.
Does Completion Have to Happen on the Day Your Fixed Rate Ends?
No.
The completion date can be earlier or later, subject to:
- your existing mortgage's early repayment charges;
- the new offer's validity;
- legal readiness; and
- the chosen product's terms.
If completing early triggers an ERC, compare that cost with waiting.
If your existing deal is ending soon, read when to start the remortgage process.
What If Completion Is Delayed After the New Funds Are Requested?
The UK Finance Handbook says the conveyancer must contact the lender if completion is delayed after the mortgage advance has been requested.
Lender instructions govern how long the legal firm may hold the money and when it must be returned.
Do not assume funds can simply sit indefinitely in the conveyancer's account until a new date is chosen.
A Useful Status Checklist
If you have an offer but no completion date, ask the conveyancer:
- Is every mortgage-offer condition satisfied?
- Is the mortgage deed signed correctly?
- Are the title checks complete?
- Is an up-to-date redemption statement available?
- Are there any restrictions or second charges to deal with?
- Has the Certificate of Title been sent?
- What notice does the new lender require to release funds?
- Has a completion date been agreed?
- Is any money required from me before completion?
That usually identifies where the case actually is.
Frequently Asked Questions
Browse all our mortgage guides.
Sources and Further Reading
- UK Finance Mortgage Lenders' Handbook — England and Wales
- HM Land Registry — Practice Guide 31: discharge of charges
- HM Land Registry — estimated completion timeframes
- MoneyHelper — Remortgaging
Related: When to Start Looking for a Remortgage | Mortgage Offer to Completion | How Long a Mortgage Offer Lasts.
