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Process for switching residential mortgage to BTL

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We're in the process of switching our current mortgage to BTL and purchasing a new home to live in.

We've gone through a broker to arrange the mortgage, but they've said they'll require a conveyancer for the purchase and all sorts of fees associated with the process. Does this sound right? Would it be easier/cheaper to go direct to the lender for the mortgage?



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You can have it faster, cheaper or done better. Pick two.

Like most things in life you get what you pay for. If you already own a few homes you should know whats involved, you should know that a cheap survey or a cheap lawyer is a fools errand that will bite you one day. Going direct for the mortgage will be cheaper of course. Haggling with me on fees is a guaranteed way to ensure you dont get a callback!

Whats your priority here? This is like asking if you go to Ikea and fit a kitchen yourself will it be cheaper? Yes. Of course. Will it be better than a pro? Probably not. Will it be quicker than a pro? Definitely not.

Pick two.

043_logo_final_03.png.0cdf828351f81e6097208048ac2d018d.pngStuart Phillips

Independent, Whole of Market Mortgage Broker

AALTO Mortgages Ltd

Web  www.aaltomortgages.com

Email  sales@aaltomortgages.com

Call  020 7183 1101

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What Stuart said! :)

Property investor ¦ Commercial Finance Broker ¦ Ex banker/underwriter with over 20 years lending experience. 

Commercial Lending Manager at Real Finance Ltd - www.realfinance.co.uk
Happy to discuss any queries regarding property finance for  Company/Complex BTL, HMO, MUB, Holiday Let, Commercial, Bridging & Development.  


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That's fair enough, and I totally get that. But I don't understand what the conveyancer is doing?

I already own the property. I'm just taking out a different type of mortgage on it.. Why do I need legal work for a remortgage? Or a survey for that matter?

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Hi there,

You definitely need a solicitor for a remortgage when changing lenders and mortgage type. Even if you were to go direct to a bank, you'll still need a solicitor.

When you remortgage to a new lender, sometimes the lender gives the solicitor for free, sometimes they don't and you have to appoint one. They

- check the Land Registry title deed,

- when you own a flat, they would also check the property lease and some details with the freeholder/management company to ensure that the details are acceptable for the new lender

- on completion, they request a settlement statement from the old lender, the money from the new lender and any potential shortfall from you or if there's a surplus, they send it to the solicitor handling the purchase transaction

- after completion, they update the Land Registry, so the title deed shows the new lender instead of the old one

What does a surveyor do in case of a remortgage? Exactly the same as what they do for a purchase. They check the property's condition to make sure that it's worth what you say and that the property is acceptable for the new lender.

I hope the above clarifies the matter :)

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  • 2 months later...

Hi there,

Keen to understand the process/steps from switching residential mortgage to BTL, players and typical fees here.

Considerations I have so far:

  1. Conveyancer (Broker fee, application fee, lender fee, survey etc.)
  2. SDLT
  3. CGT
  4. Revisions for AST and landlord insurance

I may be overcomplicating matters, though it would be great to get confirmation/hear from others who have gone through the process.


Stay safe and Many Thanks!

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