What happens on remortgage completion day?

What to Expect on Remortgage Completion Day

Updated for 2025: If you’re remortgaging your home, you may be wondering what happens on remortgage completion day — and what to expect once all the paperwork is done. Completion day is when your remortgage officially takes effect, the legal and financial transfers are completed, and your new mortgage lender takes over from the old one.

In this guide, the team at WIS Mortgages explains exactly what happens on remortgage completion day in 2025 — from how the process works to common problems and timelines — so you’ll know what to expect and how to prepare.

What happens on remortgage completion day?

All the financial and legal processes required to move your mortgage from one lender to another are finished on the day of completion. This means that you will ‘receive’ your loan from your new mortgage lender, which is paid directly to your previous lender to cover the total amount of their loan. A solicitor will arrange all the details of the completion process for you, provide a completion statement, and ensure everything is paid and completed correctly.

How the Remortgage Completion Process Works

The critical difference between a mortgage completion and a remortgage completion is that you aren’t moving home. Instead of paying for a property, you’re taking out a loan to cover another loan – which means much of the work and preparation that goes into standard completion isn’t a requirement. For example, getting keys to the property and requiring existing owners to vacate is not a part of the remortgage completion process. You’re already in the home, so all that additional organising isn’t needed.

What do I need to do to achieve completion?

To finish the completion process on your remortgage, you’ll need to have a few things in place. Firstly, you’ll need a lender that has approved your mortgage to receive the funds to pay your existing lender. It’s also recommended that you seek the support of a solicitor to help you through completion. Though remortgage completions are more straightforward, professional help is always appreciated with fiddly paperwork and processes.

If you’re remortgaging a property as a leaseholder, you may also need to seek permission from the freeholder. A solicitor or legal specialist will be able to give you advice on what to do for completion if the property happens to be a leasehold. Once completion is done and dusted, you’ll also need to update the title deed with the Land Registry – which your solicitor will be able to handle for you.

Is there a specific time and date for my remortgage completion?

Usually, lenders would prefer that you agree on a completion day during the working week. The time itself may vary, with completion sometimes going through as early as 10 am or as late as 5 pm. It all depends on the lender’s processes, and they might be able to give you an idea of what time to expect, so you aren’t sat around waiting for it to turn up.

What problems can occur on completion day for a remortgage?

In most cases, remortgaging is as straightforward as it can be. No hidden surprises or other issues. However, there are a few key problems to watch out for when you enter completion on your remortgage:

Delayed funds from your lender

Whether it’s due to banking issues or a system being down, your new lender may have trouble making payment exactly when they say they will. If this happens, sit tight, and you may find that the amount is only a couple of hours late. You may need to delay completion for significant issues by a day or so, but this is extremely rare.

Insufficient funds for lump sums

If you’re using cash-in refinancing for your mortgage, you’ve agreed to provide a certain amount of money to your new lender to reduce your payments or get a better interest rate. If those funds are not available on completion, this can be a problem. You need to pay the same day for the completion to go through.

Problems with paperwork

Paperwork can be an issue for anyone in the process. From a messed-up form from your new lender to filling out the wrong information as the borrower, incorrect information can quickly lead to completion taking far longer to fulfil. Working with a solicitor can help prevent this problem, ensuring all the t’s are crossed, and the i’s are dotted ahead of time.

Do I need a solicitor for completion of a remortgage?

While you don’t legally need a solicitor for your remortgage completion, having an expert on hand is always helpful for the paperwork and processes involved. For example, you’ll need to complete the title deed for the Land Registry and ensure all completion paperwork and deeds are filled out correctly. By working with a solicitor, you benefit from their expertise, and you don’t have to figure it out solo.

Is the remortgage completion process different if I stay with the same lender?

If you choose to remortgage with the same lender, this is known as a product transfer. If you aren’t making any changes to your plan, the completion process is very straightforward, and you may not need extra support or help. However, if you’re planning on making changes, completion may be a little more complicated, and working with a solicitor is the ideal choice for you.

When do I receive equity during the remortgage completion process?

If you’ve remortgaged specifically to access funds in a cash-out refinancing loan, then you’ll typically receive that money into your account on the same day of completion. Instead of just paying the existing lender directly, your solicitor will arrange for the set amount of money decided with the new lender to be delivered to you as well.

How do I find a remortgage?

If you like the idea of a remortgage, working with a qualified mortgage broker is a great place to start. Use our remortgage calculator or contact WIS Mortgages today to find the best remortgage option for your needs. We make mortgages simple with online calculators and expert guidance whenever you need us.

Remortgage Completion Day FAQs (Updated for 2025)

Has the remortgage completion process changed in 2025?

Not significantly, but many lenders now complete remortgages faster due to digital verification and online conveyancing systems.

How long does remortgage completion take in 2025?

It typically takes one working day once your solicitor has received all funds and documentation. Delays are rare but possible.

Can remortgage completion happen on a weekend or bank holiday?

No. Completions usually take place on working days (Monday to Friday), as solicitors and banks don’t process completions during weekends or holidays.

Will I be notified when my remortgage completes?

Yes. Your solicitor or mortgage broker will confirm by email or phone once completion has gone through and your old mortgage is repaid.

Can remortgage completion be delayed?

Yes, but this is rare. Delays might occur if your lender’s funds arrive late or if there’s an issue with your title deed. Working with a solicitor minimises the risk.

Always remember: a mortgage is secured against your property. If you fail to keep up repayments, it may be repossessed.